Food inflation at 8.31% y/y as at July 2 | business | Hindustan Times
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Food inflation at 8.31% y/y as at July 2

India's food price index rose 8.31% and the fuel price index climbed 11.89% in the year to July 2, government data today showed. In the previous week, annual food and fuel inflation stood at 7.61% and 12.67%, respectively.

business Updated: Jul 14, 2011 12:39 IST

India's food price index rose 8.31% and the fuel price index climbed 11.89% in the year to July 2, government data on Thursday showed.

In the previous week, annual food and fuel inflation stood at 7.61% and 12.67%, respectively.

The primary articles price index was up 11.58%, compared with an annual rise of 11.56% a week earlier.

The Reserve Bank of India (RBI) is expected to raise rates for the 11th time since March 2010 at its monetary policy review on July 26, to combat sticky inflation which stood above 9% in May.

The market expects the RBI, which last month signalled more increases to come even as growth in Asia's third-largest economy is slowing down, to raise key rates by 25 basis points at the review.