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Food inflation eases marginally to 9.32%

Food inflation eases marginally to 9.32%
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First Published: Thu, Oct 13 2011. 12 05 PM IST

Updated: Thu, Oct 13 2011. 12 05 PM IST
New Delhi: India’s food price index rose 9.32% and the fuel price index climbed 15.10% in the year to 1 October, government data on Thursday showed.
In the previous week, annual food and fuel inflation stood at 9.41% and 14.69%, respectively.
The primary articles index was up 10.60%, compared with an annual rise of 10.84% a week earlier.
The Reserve Bank of India (RBI) has raised interest rates a dozen times in the past 18 months, in a campaign that has done more to slow growth than contain inflation, which remains at more than twice the bank’s comfort level.
Data on Wednesday showed India’s industrial production expanded less than expected in August in further evidence of a slowdown in Asia’s third-largest economy as soaring interest rates and persistently high inflation weigh on demand.
Whether the persistent weakness in industrial output growth will spur the RBI into ending a long cycle of rate rises may be determined by Friday’s September headline inflation data.
Inflation in August accelerated to 9.78%, its highest in more than a year, from 9.22% in July.
The RBI will meet on 25 October to review its policy.
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First Published: Thu, Oct 13 2011. 12 05 PM IST