Retail inflation for industrial workers up 9.47 pc in Dec

Written by: Pti
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Shimla/New Delhi, Jan 31 (PTI) Retail price inflation foritems consumed by industrial workers increased to 9.47 percent in December 2010 from 8.33 per cent in the previousmonth, mainly due to dearer food prices.

Besides, food inflation on retail prices also rose to7.98 per cent in December, as compared to 5.35 per cent inNovember, the Ministry of Labour and Employment said in astatement today.

Inflation, particularly food inflation, has been aconcern for both the government and the common man. For pastthe few months, food prices having been at very high levels.

Food inflation, based on wholesale prices, rose to 15.57per cent for the week ended January 15, on account ofescalating vegetable prices, particularly, onions. It was at15.52 per cent for the week ended January 8.

Overall wholesale price inflation in December had alsorisen to 8.43 per cent, up from 7.48 per cent in the previousmonth, driven by costly food items.

At its quarterly review last week, RBI revised itsheadline inflation estimate to 7 per cent by the end of March,up from the earlier estimate of 5.5 per cent.

To tame inflation, RBI has raised short-term lending(repo) and short-term borrowing (reverse repo) by 25 basispoints each to 6.5 per cent and 5.5 per cent.

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