India's food, fuel inflation tick up - Yahoo! India News

India's food, fuel inflation tick up - Yahoo! India News: "India's annual food and fuel inflation quickened in the week to April 10, putting upside pressure on the headline inflation and central bank to take action before its next policy review in July."

RBI hikes key interest rates, focus on fighting inflation

RBI hikes key interest rates, focus on fighting inflationMumbai: In a move to rein in soaring inflation, the country’s central bank Tuesday increased its short tern interest rates and cash reserve ratio by 25 basis points each.

Presenting annual monetary policy for the current fiscal in a meeting of the chief executives of commercial banks, Reserve Bank of India (RBI) Governor D Subbarao announced the rate hike.

The central bank has raised the repo rate to 5.25 percent, reverse repo to 3.75 percent and CRR to 6 percent.

Food inflation slips a bit

After rising to nearly 20 per cent in the previous week, food inflation eased a bit at 18.22 per cent towards the close of 2009 but households continued to feel the pinch as prices of pulses, potatoes and cereals were still ruling high.

Food inflation slipped by 1.61 percentage points during the week ended December 26 from 19.83 per cent the previous week as vegetable prices fell marginally on weekly basis though on yearly basis prices continued to soar.

However, if food prices relent on a sustained basis, the trend will buttress the government's confidence about prices easing by next month.

Food inflation at 19.95 vs 19.05 for Dec 1st week

Galloping prices of potatoes and pulses raised food inflation to 19.95 per cent in the first week of December against 19.05 per cent in the previous week.

On an annual basis, potato prices more than doubled at 136 per cent and pulses became costly by over 40 per cent, while onion rose by 15.4 per cent.

The spike in prices was significant also on a weekly basis, with urad and spices rising by 3 per cent while milk rose by 2 per cent.

At the same time, maize, barley, pork, masur and wheat was costlier by one per cent each.


source:ptinews

Nov Inflation at 4.78 pc vs 1.34 pc(MOM)

The wholesale price index rose an annual 4.78 percent in November, as food prices surged after the worst monsoon rains since 1972 and then flooding hurt crops.

Annual rate of inflation for food articles up at 19.05 pc

Soaring prices of vegetables like potatoes and onions pushed the annual rate of inflation for food articles to 19.05 per cent for the week ended November 28.

Food inflation was 17.47 per cent for the previous week ended November 21.Data released today showed prices of essential commodities like cereals went up by 12.7 per cent, rice by 11.75 per cent, wheat 12.6 per cent and pulses rose by 42 per cent.

At the same time, fruits were expensive by 13 per cent while milk became costly by 11.36 per cent.For the month ended October, the wholesale price inflation stood at 1.34 per cent against 11.06 per cent in the corresponding month a year ago.

Food inflation surged to 17.47 pc in the 3rd week of Nov 2009

Food inflation surged to 17.47 per cent in the third week of November, fuelled by expensive onions and other essentials, prompting experts to ask RBI to tighten its monetary stance.RBI itself was in agreement that it would have to reassess the accommodative policy stance going forward, since the economy is on a rebound and prices were rising.

While monetary policy does not have a direct bearing on bringing down prices of food products, the demand for tightening money supply is directed towards preventing food inflation from spreading to manufactured items.

Food inflation stood at 15.58 per cent a week ago.On a weekly basis, onions turned expensive by over 12 per cent, while it surged by 30.89 per cent on a yearly basis.Pulses rose over 37 per cent, while rice wheat, fruits, milk turned expensive by over 10 per cent year on year.

Food inflation rose to 15.58 per cent

Food inflation rose to 15.58 per cent for the second week of November from 14.55 per cent in the previous week as potatoes and pulses turned costlier.On an annual basis, potato prices more than doubled, pulses became expensive by over 35 per cent, while onions rose by 27 per cent.

Price rise was significant on weekly basis with urad and poultry chicken rising by 15 per cent each, eggs by 8 per cent, moong by 6 per cent, arhar by 5 per cent and fruits & vegetables by 3 per cent.

source:PTI

Food price index was up 14.55 percent in the 12 months

The food price index was up 14.55 percent in the 12 months to Nov. 7, while the fuel index was down 1.51 percent, the government said on Thursday.

The worst dry spell in nearly four decades and floods in parts of the country have hurt farm output and pushed up food prices.

On Wednesday, Finance Minister Pranab Mukherjee said the government might import rice, if the summer-sown crop output was inadequate.

The annual wholesale inflation rose 1.34 percent in October from a year earlier, compared with 0.5 percent in September and 11.06 percent a year ago.

Food inflation up at 13.68 pc

Food inflation edged up to 13.68 per cent for the week ended October 31, from 13.39 per cent in the previous week mainly on account of soaring vegetable prices.

On an annual basis, prices of potatoes have more than doubled, while onions were expensive by about 40 per cent.

During the week, prices of bajra increased 3 per cent, fruit and vegetables 2 per cent and jowar, wheat and arhar by one per cent each.