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Thursday, November 12, 2009

Food price index rises 13.68 pct yr/yr Oct 31

India's food price index was up 13.68 percent in the 12 months to Oct. 31, while the fuel index was down 1.71 percent, the government said on Thursday.The government will now release monthly data for all commodities for October on Nov. 14, a spokesman of the trade and industry ministry told Reuters.

Over the weekend, Montek Singh Ahluwalia, deputy chairman of the Planning Commission and a close aide to the prime minister, said food price inflation was a concern but it should moderate by the end of this fiscal year.

Late last month, India's central bank raised the WPI inflation projection to 6.5 percent with an upside bias by end-March 2010, from 5.0 percent earlier.

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