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Food inflation eases to 8.53% from previous 8.76%

Food inflation eases to 8.53% from previous 8.76%
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First Published: Thu, May 05 2011. 12 02 PM IST
Updated: Thu, May 05 2011. 12 02 PM IST
New Delhi: India’s food price index rose 8.53% and the fuel price index climbed 13.53% in the year to 23 April, government data on Thursday showed.
In the previous week, annual food and fuel inflation stood at 8.76% and 13.53%, respectively.
The primary articles price index was up 12.11%, compared with an annual rise of 12.08% a week earlier.
The central bank, the Reserve Bank of India, raised interest rates by a bigger-than-expected 50 basis points on Tuesday, its ninth rate hike since March 2010, in a bid to moderate stubbornly high inflation.
The wholesale price index-based inflation , the most widely watched gauge of prices in India, rose 8.98% in March from a year earlier, higher than February’s 8.31% rise.
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First Published: Thu, May 05 2011. 12 02 PM IST
More Topics: India | Markets | Food | Inflation | Economy |