ID :
160904
Mon, 02/14/2011 - 12:25
Auther :
Shortlink :
https://oananews.org//node/160904
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India's Inflation down to 8.23% in January as prices of sugar, wheat ease
New Delhi, Feb 14 (PTI) Inflation in the country declined
marginally to 8.23 per cent in January from 8.43 per cent in
the previous month, as prices of certain commodities like
wheat, pulses and sugar eased, although essential items like
onion and other vegetables continue to remain dearer.
The headline inflation, based on wholesale prices, has
remained above 8 per cent-mark since January 2010.
The fall in inflation has been mainly on account of
declining prices of sugar (down 14.99 per cent), pulses (12.78
per cent), wheat (4.94 per cent) and potato (1.21 per cent).
However, vegetable and fruits continued to remain
expensive. On an annual basis, vegetable prices rose by 65 per
cent, and onion prices nearly doubled. Also, fruits became
costly by 15.01 per cent and egg, meat and fish by 15.09 per
cent.
Overall, primary articles became costly by 17.28 per cent
with food articles rising 15.65 per cent.
In the non-food articles category, fibre prices rose by
48 per cent on an annual basis.
Prices of fuel and power shot up by 11.41 per cent, with
petrol rising 27.37 per cent on an year-on-year basis.
However, among manufactured items, sugar prices fell by
15 per cent, while edible oils turned costlier by 7.16 per
cent.
The inflation number for November has also been revised
upwards to 8.08 per cent from 7.48 per cent, according to
government data released today.
The easing of inflation is expected to come as a morale
booster for the government which have been under pressure due
to high prices of food items in recent months.
It also shows that Reserve Bank of India's action of
raising rates seven times since March 2010 has started showing
some result.
It may be recalled, the food inflation, which accounts
for over 14 per cent in the overall Wholesale Price Index
(WPI) inflation, has remained high since December scaling up
to 18.32 per cent.
At its third quarterly review last month, the RBI revised
its inflation estimate to 7 per cent by March-end, from the
earlier 5.5 per cent.
marginally to 8.23 per cent in January from 8.43 per cent in
the previous month, as prices of certain commodities like
wheat, pulses and sugar eased, although essential items like
onion and other vegetables continue to remain dearer.
The headline inflation, based on wholesale prices, has
remained above 8 per cent-mark since January 2010.
The fall in inflation has been mainly on account of
declining prices of sugar (down 14.99 per cent), pulses (12.78
per cent), wheat (4.94 per cent) and potato (1.21 per cent).
However, vegetable and fruits continued to remain
expensive. On an annual basis, vegetable prices rose by 65 per
cent, and onion prices nearly doubled. Also, fruits became
costly by 15.01 per cent and egg, meat and fish by 15.09 per
cent.
Overall, primary articles became costly by 17.28 per cent
with food articles rising 15.65 per cent.
In the non-food articles category, fibre prices rose by
48 per cent on an annual basis.
Prices of fuel and power shot up by 11.41 per cent, with
petrol rising 27.37 per cent on an year-on-year basis.
However, among manufactured items, sugar prices fell by
15 per cent, while edible oils turned costlier by 7.16 per
cent.
The inflation number for November has also been revised
upwards to 8.08 per cent from 7.48 per cent, according to
government data released today.
The easing of inflation is expected to come as a morale
booster for the government which have been under pressure due
to high prices of food items in recent months.
It also shows that Reserve Bank of India's action of
raising rates seven times since March 2010 has started showing
some result.
It may be recalled, the food inflation, which accounts
for over 14 per cent in the overall Wholesale Price Index
(WPI) inflation, has remained high since December scaling up
to 18.32 per cent.
At its third quarterly review last month, the RBI revised
its inflation estimate to 7 per cent by March-end, from the
earlier 5.5 per cent.
