Log in to your IBTimes Account

close
ID
Password

Inflation turns positive after 13 weeks, presents policy dilemma to central bank



By Staff Reporter
17 September 2009 @ 7:12 pm IST

New Delhi - India's wholesale price index (WPI) based inflation rate turned positive after a thirteen week hiatus even as surging food prices threatened to derail central bank's monetary policy.


A vegetable seller waits for customers behind a pile of peas at a market in New Delhi, India
A vegetable seller waits for customers behind a pile of peas at a market in New Delhi, India. India's wholesale price index (WPI) based inflation rate turned positive after a thirteen week hiatus even as surging food prices threatened to derail central bank's monetary policy. (Reuters Photo)
1 of 1

advertisement

According to the government data, India's inflation rate stood at 0.12 percent for the week ended September 5, higher than (-)0.12 percent reported in the previous week. Inflation rate stood at 12.42 percent during the corresponding week a year ago.

During the week under review, prices of food articles such as poultry chicken (up 16 percent), fruits & vegetables (up 8 percent), pork (up 5 percent), condiments & spices (up 3 percent), bajra (up 2 percent) and rice and moong (up 1 percent each) continued to surge.

Among food products, prices of sugar and sooji (rawa) (up 4 percent each), khandsari and bran (all kinds) (up 2 percent each) and maida, atta and gingelly oil (up 1 percent each) rocketed.

Among non-food items, raw silk, cotton seed and raw rubber (up 3 percent), polyester staple fibre (up 5 percent), lead ingots (up 4 percent), material handling equipment (up 6 percent) and electrical relays (up 3 percent) witnessed maximum increase in price.

The prices of bitumen (up 9 percent), furnace oil and light diesel oil (up 4 percent each) and aviation turbine fuel (up 2 percent) also rose.

This article is copyrighted by Ibtimes.co.in.

    Click!
  • Rate this article:

Comments

Post Your Comment

You must be an IBTimes member to post a comment. Login | Register


advertisement
More Market News
India will take gradual steps to full convertibility of the rupee but not in one go, Finance Minister Pranab Mukherjee told parliament on Friday.
Private equity investments in India's logistics services sector are set to rise as it gears up to improve transportation - with costs among the most proh...
India gold demand cooled off on Tuesday afternoon after picking-up in the previous session, as traders waited for further price dips to stock up for the ...

advertisement
 
IBTimes.co.in Web
 
International Business Times© 2010 The Ibtimes Company. All Rights Reserved. Partners