June inflation climbs to 9.44%
Snapping a two-week declining trend, food inflation rose to 8.31% for the week ended July 2 on the back of soaring prices of protein-based items, cereals and vegetables.
July 14, 2011 / 13:39 IST
Overall inflation surged to 9.44% in June from 9.06% in May. On a month on month (MoM) basis, primary articles inflation rose to 12.22% as compared to 11.3% in the previous month.
Snapping a two-week declining trend, food inflation rose to 8.31% for the week ended July 2 on the back of soaring prices of protein-based items, cereals and vegetables.Also Read: Inflation to top 10% in July says NomuraFood inflation, as measured by the Wholesale Price Index (WPI), rose by 0.70 percentage points during the week under review vis-a-vis the previous week. The rate of price rise in food items stood at 7.61% in the previous week, ended June 25.As per data released by the government today, fruits and milk became 13.54% and 12.39% costlier, respectively, during the week under review. Prices of protein-based items like eggs, meat and fish went up by 11.95% annually.Furthermore, cereals became 5.40% costlier, while vegetable prices were up by 2.25%. Prices of onions shoot up 30.72% on an annual basis. Among the food items that saw some moderation in prices were pulses (down by 8.46%) and potatoes (down by 2.56%).The latest numbers on the rate of price rise in food items are the lowest since the week ended June 11, when food inflation stood at 9.13%. Meanwhile, inflation in overall primary articles stood at 11.58% for the week ended July 2, up from 11.56% in the previous week. Primary articles have a share of over 20% in the WPI basket.Inflation of non-food primary items stood at 15.20% during the week under review, down from 17.69% in the previous week. Prices of fibres were up almost 34%, while fuel and power became more expensive by 11.89% Y-o-Y. LPG became dearer by 14.58% on an annual basis. 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!
