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Food inflation rises to 12.81 per cent
16 July 2010: The annual food inflation, based on the Wholesale Price Index, rose 12.81 per cent for the week ended on 3 July 2010, marginally above the previous week's Y-O-Y rise of 12.63 per cent.
Fuel inflation eased to 14.27 per cent during the latest week, mainly due to a decline in prices of furnace oil, compared with a rise of 18.02 per cent for the week ending 26 June 2010.
Data released by the Union Ministry of Commerce showed inflation in pulses increased 29 per cent, and milk 16 per cent during the latest week, even as vegetables dipped by six per cent. The index for primary articles was up at 16.25 per cent compared with 16.08 per cent a week-ago, while the sub-index for non-food items was up 18.85 per cent from previous week's 18.6 per cent increase.
On a sequential basis, the Primary Articles group index gained 0.1 per cent even as the index for ‘Food Articles' group declined 0.1 per cent due to lower prices of fruits and vegetables (two per cent) and tea and masur (one per cent each). However, the prices of bajra (three per cent), fish-inland and mutton (two per cent each) and eggs, wheat and maize (one per cent each) moved up.
The index for ‘Non-Food Articles' group rose by 0.4 per cent due to higher prices of raw rubber (four per cent), raw jute (two per cent) and castorseed and groundnut seed (one per cent each). However, the prices of linseed (two per cent) and sunflower (one per cent) declined.
The Fuel index dipped 0.1 per cent on a week-on-week basis due to the decline in price of furnace oil (one per cent). However, there was rise in price of aviation turbine fuel (four per cent).
Source: Hindu Business Line