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Food inflation rebounds to 8.3% from 7.6%

Food inflation rebounds to 8.3% from 7.6%
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First Published: Thu, Jul 14 2011. 11 51 AM IST
Updated: Thu, Jul 14 2011. 11 51 AM IST
New Delhi: Food price index rose 8.31% and the fuel price index climbed 11.89% in the year to 2 July, government data on Thursday showed.
In the previous week, annual food and fuel inflation stood at 7.61% and 12.67% respectively.
The primary articles price index was up 11.58%, compared with an annual rise of 11.56% a week earlier.
India’s June headline inflation data is due for release.
Reserve Bank of India is expected to raise rates for the 11th time since March 2010 at its monetary policy review on 26 July, to combat sticky inflation which stood above 9 percent in May.
The market expects the Reserve Bank of India (RBI), which last month signalled more increases to come even as growth in Asia’s third-largest economy is slowing down, to raise key rates by 25 basis points at the review.
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First Published: Thu, Jul 14 2011. 11 51 AM IST
More Topics: India | Economy | Markets | Inflation | Food |