Inflation up at 6.09 per cent
A spurt in prices of fruits, vegetables pushed up inflation to 6.09% during the first week of the current fiscal.
By PTI |
NEW DELHI: A spurt in prices of fruits, vegetables and some other items pushed up inflation to 6.09 per cent during the first week of the current fiscal, increasing pressure on interest rates ahead of the RBI's annual monetary policy on April 24.
Wholesale prices-based inflation had fallen below six per cent at 5.74 per cent for the week ended March 31.
The intensity of surge in inflation can also be guaged from the fact that it was just 3.81 per cent in the year-ago period.
Prices of vegetables rose by a whopping 23 per cent durinig the week, while that of fruits marginally declined 0.1 per cent. Overall, prices of the fruits and vegetables category rose nearly 10 per cent.
This may cause concern for the government, which has been trying hard to bring down inflation, especially of essential commodities, at tolerable level.
ADVERTISEMENT
In fact, in recent weeks prices, manufactured products like cement were driving up inflation with the government managing to control prices of primary artilces. Finance Minister P Chidambaram had also asked manufacturers not to hike prices for short term gains.With essential commodities becoming dearer again, the government may have to take more steps to contain prices.
Already, exports of wheat and pulses (except 'kabuli chana), besides futures trading in wheat, rice, tur and urad' have been banned. Imports of pulses and wheat are duty-free.
Among other food products, prices of barley rose by five per cent, masur by three per cent and bajra, condiments and spices and urad by one per cent each during the week ended April 7.
ADVERTISEMENT
However, prices of poultry chicken fell by six per cent and gram and fish-marine by 2 per cent each. Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
