Food Inflation at 9.90%, close to double digit

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Food Inflation at 9.90%, close to double digit
Food inflation, as measured by Wholesale Price Index (WPI) for the week ended July 30 rose to 9.9% against 8.04% on a weekly basis on account of costlier onions, fruits, vegetables and protein-based items.

Primary articles inflation which contribute 20% in the WPI also rose to 12.2 % against 10.99%.
As per the data released by the government today, prices of onions went by 36.62%, year-on-year (y-o-y), while cost of fruits went up 16.49%.

The fuel and power inflation for the above period stood at 12.19%, marginally up from 12.12% in the week ended July 23rd.

Cereal prices rose by 6.22%, potatoes by 10.85% and milk by 10.38%.

However, pulses became cheaper by almost 6% on y-o-y basis.

The latest numbers are likely to put further pressure on the government and the Reserve Bank, who have been struggling hard to combat inflation over a period of of one-and-a-half years.

This is the highest rate of price rise in food items since the week ended March 12, when food inflation stood at 10.05%.

There is a general outcry as wallets are increasingly becoming empty.

But that is as far as it goes in regard to external factors influencing the current runaway inflation. Most of the issues are domestically engineered.

Read more about: inflation, economy, rbi, government
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