Food inflation at 8.55%, hits 4-week high | business | Hindustan Times
Today in New Delhi, India
Aug 16, 2018-Thursday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

Food inflation at 8.55%, hits 4-week high

Food inflation surged to a four-week high of 8.55% for the week-ended May 14, amid costlier fruits, and protein-based items such as milk, egg, meat and fish increasing the risk of pushing overall inflation even further. Food inflation stood at 7.47% in the previous week.

business Updated: May 26, 2011 21:54 IST
HT Correspondent
HT Correspondent
Hindustan Times

Food inflation surged to a four-week high of 8.55% for the week-ended May 14, amid costlier fruits, and protein-based items such as milk, egg, meat and fish increasing the risk of pushing overall inflation even further. Food inflation stood at 7.47% in the previous week.

Food prices are also set to rise next month following a possible hike in prices of diesel and LPG that will pinch household budgets even more, already pummelled by high prices of most goods.

Average inflation in 2010-11 was 9.43% — the highest in 16 years.

The government expects the average annual inflation for 2011-12 to be between 7.5% and 8% amid spiralling prices of vital commodities such as oil.

Inflation of non-food articles has been in the range of 20-25% over the past many weeks.

Both the government and Reserve Bank of India (RBI) have acknowledged that underlying inflationary pressures have accentuated, even as risks to growth are emerging.

First Published: May 26, 2011 12:05 IST