Costly fruits push India's food price inflation to a 2-month high of 9.01 per cent
09 Jun 2011
Food price inflation in the country reversed a brief declining trend and climbed to 9.01 per cent during the week ended 28 May 2011, from 8.06 per cent in the previous week, due mainly to costly fruits.
The volatility in food prices along with the underlying inflationary trend is expected to create more problems for the policymakers.
Food price inflation in the country stood at 20.62 per cent during the comparable week of the previous year.
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) was 4.69 per cent against 4.62 per cent in the similar period of the previous year.
The index for the 'food articles' group rose 0.6 per cent to 187.5 (provisional) during the week ended 28 May 2011 from 186.3 (provisional) in the previous week due to higher prices of tea (up 19 per cent), pork and maize (up 4 per cent each), jowar (up 3 per cent), fish-inland (up 2 per cent) and milk, egg, urad, barley, poultry chicken and wheat (up 1 per cent each). However, the prices of ragi and arhar (down 2 per cent each) and condiments and spices, bajra and masur (down 1 per cent each) declined.
Inflation rate for the 'non-food articles' group declined to 20.97 per cent during the week ended 28 May 2011 from 21.31 per cent in the previous week.
