INDIA

Food inflation spiked in the previous two weeks mainly because of a sharp increase in the prices of vegetables and fruits. Prices of vegetables, which had risen 14.61 percent in the previous week, increased at a slower pace of 2.59 percent during the week under review. Prices of eggs, meat and fish also increased at a slower rate of 9.93 percent for the week ended Aug 6 as compared to 13.44 in the previous week.The primary articles index, which has 20.12 percent weight in the wholesale price index, also rose at a slower pace of 11.64 percent for the week under review as compared to 12.22 percent in the previous week, according to data released by the commerce and industry ministry.The index for fuels and power, which has a 14.91 percent weight in the wholesale price index, rose 13.13 percent during the week under review from 12.19 percent in the previous week. The headline inflation based on wholesale price index declined marginally to 9.22 percent in July, the lowest level in eight months, from 9.44 percent in the previous month, according to official data released early this week. The following are the yearly rise and fall in prices of some main commodities that form the sub-index for food articles: Onions: 37.62 percent Vegetables: 2.59 percent Fruits: 26.46 percent Potatoes: 7.22 percent Eggs, meat, fish: 9.93 percent Cereals: 6.23 percent Rice: 5.58 percent Wheat: 0.59 percentPulses: (-) 5.63 percent [More]
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