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Food prices push India’s retail inflation higher in August

Author: IANS/Tuesday, September 12, 2017/Categories: Economy

Food prices push India’s retail inflation higher in August

New Delhi, Sep 12 - A rise in food prices pushed India's annual retail inflation higher in August, official data showed.

According to the data furnished by the Ministry of Statistics & Programme Implementation, August's consumer price index (CPI) inflation shot-up a full one percentage point to 3.36%  from a rise of 2.36% in July.

On a sequential basis, the country's Consumer Food Price Index (CFPI) rose to 1.52% during the month under review when compared to July 2017.

However, on a year-on-year (YoY) basis, the country's August retail inflation was lower than the 5.05% CPI rate reported for the corresponding month of last year.

The YoY CPI in urban areas ruled higher at 3.35%, whereas in rural India it rose by 3.30%.

As per the ministry's data, retail inflation on a YoY basis edged higher due to a rise in the prices of food items like vegetables, cereals, milk-based products, meat and fish.

The data on a YoY basis showed that vegetables in August became costly by 6.16%, while cereals prices rose by 3.87%.

Other notable categories such as milk-based products became dearer by 3.58% and meat and fish recorded a rise of 2.94%.

Food and beverages during the month under consideration recorded a rise of 1.96% over the same month last year.

Among non-food categories, the "fuel and light" segment's inflation rate accelerated to 4.94% in August.

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S Vijaykrishnan
S Vijaykrishnan

IANS

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