Food inflation at 9.42% YoY on March 5
India's food price index rose 9.42% and the fuel price index climbed 12.79% in the year to March 5, government data on Thursday showed.
March 17, 2011 / 15:00 IST
India's food price index rose 9.42% and the fuel price index climbed 12.79% in the year to March 5, government data on Thursday showed.
Annual food inflation in early March eased from 9.52% recorded in the previous week as prices of onions and milk fell, while fuel inflation accelerated, on a jump in coking coal prices, from 9.48%a week earlier.The primary articles price index was up 12.31%, compared with an annual rise of 13.96% in the prior week.The wholesale price index-based inflation, the most widely watched gauge of prices in India, unexpectedly quickened an annual 8.31% in February on higher fuel and manufactured product prices, data showed on Monday, compared with 8.23% in January.Most analysts expect another rate rise of 25 basis points when the central bank reviews policy, for which a decision is due at noon (0630 GMT).Faced with persistently high inflation in Asia's third-largest economy, the Reserve Bank of India (RBI) has been the most aggressive central bank in the region, lifting its key rates seven times since last March. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
