Rise in food product prices push inflation to 1-yr high

New Delhi, June 23 (UNI) Increase in prices of food articles like pulses, wheat, eggs and spices resulted in the point-to-point inflation rate crossing the five per cent mark, touching a 12 month high for the week ended June 10.

The annual inflation based on the Wholesale Price Index (WPI) stood at 5.24 per cent, as against 4.72 per cent during the previous week.

The inflation rate during the corresponding week of the previous year was 4.50 per cent, according to official figures released here today.

The WPI for all commodities for the week ended June 10, rose by 0.5 per cent to 203.0 from 201.9 for the previous week.

The government yesterday allowed private parties to import wheat and sugar and imposed an immediate ban on the export of pulses as part of a slew of measures to dampen inflation and bring about restraint in the market.

The index for the Primary Articles group rose by 0.2 per cent to 202.7 from 202.2 for the previous week.

The index for Food Articles group rose by 0.1 per cent to 207.0 from 206.7 for the previous week due to higher prices of jowar (7 per cent), eggs (4 per cent), arhar (3 per cent), condiments and spices and gram (2 per cent each), wheat, moong and inland fish (1 per cent each).

However, the prices of bajra (2 per cent), fish and vegetables (1 per cent) declined.

The index for Non-Food Articles group rose by 0.4 per cent to 179.6 from 178.8 for the previous week due to higher prices of raw rubber (9 per cent) and niger seed, sunflower, cotton seed, copra and linseed (1 per cent each).

MORE UNI PV/ARB CS HS1406