Pranab attributes inflation to higher prices of food articles

Pranab attributes inflation to higher prices of food articles
PTI
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First Published: Mon, Dec 14 2009. 03 52 PM IST
Updated: Mon, Dec 14 2009. 03 52 PM IST
New Delhi: Finance minister Pranab Mukherjee attributed the 4.78% spurt in inflation in November to rising prices of food articles.
“Inflation has risen high mainly because the food article prices have gone up,” Mukherjee told reporters in New Delhi.
The inflation, according to the monthly data released today, has shot up from 1.34% in the previous month to 4.78% in November, registering a more than three-fold increase.
Mukherjee further said that rise was more evident in the Consumer Price Index (CPI) than in the Wholesale Price Index (WPI) as “food items have higher weightage” in the CPI.
Food articles has a wightage of about 43 to 48% in the CPI, the minister added, pointing out the difference in two indexes.
The CPI-based inflation for industrial workers rose by 11.49% in October, up from 11.64% a month ago.
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First Published: Mon, Dec 14 2009. 03 52 PM IST