Food inflation rises to 9.80% for the week ended Aug 13

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Food inflation rises to 9.80%
Food inflation, as measured by Wholesale Price Index (WPI) rose to 9.80%, close to double digit for the week ended on August 13 on account of costlier onions, potatoes, fruits and protein-based items.

It stood at 9.03% for the week ended August 6. It was at 14.56% in the corresponding period of last year.

As per the data released by the government, the onions turned more expensive by 44.42% year-on-year, while potatoes soared 16.39% during the week under review.
Fruits became costlier by 27.01% and eggs, meat and fish by 13.37% y-o-y basis.

Milk, vegetables and cereals also went up.

The price of milk was up 9.51%, while vegetables and cereals soared by 6.52% and 5.22%, respectively.

Non-food articles, such as fibres, oil seeds and minerals, stood at 17.80%, as against 16.07% in the previous week.

Pulses calmed down by 5.56% and the price of wheat was down by 2.80% on an annual basis.

Overall primary articles which contributes 20% in the WPI recorded 12.40% inflation for the week ended August 13, up from 11.64% in the previous week.

The fuel price index stood steady at 13.13%.

Headline inflation stood at 9.22% in June.

Prime Minister Manmohan Singh showed confidence that headline inflation would moderate by the year end and would come down to 6% by the year-end.

While, the RBI and policy-makers expect it to be high at around 9% till October.

GoodReturns.in

Read more about: inflation, rbi, manmohan singh
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