Food price inflation shoots up to 8.74 per cent
21 Apr 2011
Food price inflation in the country, which showed a declining trend during the previous two weeks, shot up again to 8.74 per cent during the week ended 9 April 2011, from 8.28 per cent in the previous week.
Food price inflation in the country stood at 20.31 per cent during the comparable week of the previous year.
The index for the 'food articles' group rose slightly during the week due to higher prices of food grains, including wheat and ragi and pulses like arhar, moong and urad.
Food articles have a weight of 14.34 in the wholesale price index (WPI) of commodities while primary articles have a weight of 20.12, non-food articles a weight of 4.26 and fuel and power group a weight of 14.91.
Build-up of inflation for the `food articles' group so far during the current financial year (beginning 1 April 2011) stood at 2.31 per cent against 8.74 per cent in the similar period of the previous year.
The index for the 'food articles' group declined 0.1 per cent to 182.9 (provisional) from 183.0 (provisional) in the previous week due to lower prices of barley and mutton (down 2 per cent each) and condiments and spices and jowar (down 1 per cent each). However, the prices of maize, bajra, urad and arhar (up 2 per cent each) and moong, wheat and ragi (up 1 per cent each) moved up.