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Thursday, February 4, 2010

Food price index up again, will govt step in?

The food price index rose 17.56 percent in the 12 months to Jan. 23, strengthening the case for more government steps to tame rising prices in the budget, while the fuel price index was up 5.88 percent, the government said on Thursday.

The annual wholesale inflation picked up to 7.31 percent in December 2009, compared with 4.78 percent in November.

Vegetables dearer by 13%

Prices of some essential items remained firm with vegetables dearer by 13.02 percent and fruits by 6.54 percent during the 52-week period. However, prices of onions fell 10.5 percent.

The limited data on the wholesale index released by the commerce and industry ministry further showed that while the index for primary articles fell 14.56 percent, that for fuels rose 5.88 percent.

India's overall inflation rate, based on the wholesale prices index, had risen sharply to 7.31 percent in December from 4.78 percent the previous month mainly on account of higher food prices.

The price rise of some essential food items over the 52-week period:

- Potatoes: 44.91 percent

- Pulses: 44.43 percent

- Cereals: 13.37 percent

- Rice: 10.96 percent

- Milk: 13.95 percent

- Wheat: 15.96 percent

- Vegetables: 13.02 percent

- Fruits: 6.54 percent

Source: Reuters, IANS

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