Data released by the commerce and industry ministry showed thesharp rise during the week under review was primarily due to higher prices of pulses like urad and moong, and fruits and vegetables.
The index for primary articles remained significantly higher at 17.6 percent as the sub-index for non-food items logged a relatively faster jump of 18.86 percent.
Following is the rise and fall in prices of some of the main commodities that form the sub-index for food articles over the past 52 weeks:
Cereals: 5.11 percent
Rice: 6.45 percent
Wheat: 4.21 percent
Pulses: 34.14 percent
Vegetables: 4.32 percent
Fruits: 13.55 percent
Milk: 21.12 percent
Potatoes: (-)36.99 percent
Onions: (-)22.42 percent
With the advent of the monsoon, policy makers are hoping that a depression in food prices will kick in soon, but the base effect of last fiscal might see inflation rise over a few more weeks before it eventually falls.
Though pressure is building on the Reserve Bank of
RBI governor D. Subbarao had said last week inflation was getting more broad-based, but the bank would continue to rely on its promise of a caliberated exit from a more relaxed monetary policy stance.Finance Minister Pranab Mukherjee said in
Thursday, June 24, 2010
India’s food inflation accelerates to 16.9 percent
Industry Research Reports
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