New Delhi: Inflation might have fallen in the negative zone at -1.21% in the first week of July, but the rate of price rise in essential commodities is still as high as 10.85%, Parliament was informed on Tuesday.
Retail prices of loose tea skyrocketed by 147.74% in July, while its wholesale prices zoomed up by 141.3%, according to data provided by minister of state for finance Namo Narain Meena told the Rajya Sabha.
Prices of certain edible oils have also climbed significantly during the week. Groundnut oil prices rose by 81.5% on retail counters, while wholesale prices were up by 75.34%, according to the data.
Similarly, retail prices of mustard oil moved up by 72.52%, while its wholesale prices rose by 68.03%.
Rice, wheat, gram, sugar, milk, onion, salt etc have turned dearer over the months, the data showed.
“In the first week of July 2009, inflation in all commodities was -1.21% as against inflation in essential commodities at 10.85%,” Meena said in a written reply.
He said that the prices of essential commodities continue to remain high due to lower agriculture production in some crops and increase in the minimum support prices and growth in demand.