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Food inflation at 7.70% on 30 April

Food inflation at 7.70% on 30 April
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First Published: Thu, May 12 2011. 12 13 PM IST
Updated: Thu, May 12 2011. 12 13 PM IST
New Delhi: India’s food price index rose 7.70% and the fuel price index climbed 12.25% in the year to 30 April, government data on Thursday showed.
In the previous week, annual food and fuel inflation stood at 8.53% and 13.53%, respectively.
The primary articles price index was up 11.96%, compared with an annual rise of 12.11% a week earlier.
The Reserve Bank of India (RBI) raised interest rates last week -- its ninth rate hike since March 2010 -- by a sharper-than-expected 50 basis points and said fighting inflation was its priority, even at the expense of short-term growth.
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 12 2011. 12 13 PM IST