Food Inflation Soars Again; Hits 11.43% YoY

27 October, 2011

India’s food price index rose 11.43 per cent and the fuel price index climbed 14.70 per cent in the year to Oct. 15, government data on Thursday showed.

In the previous week, annual food and fuel inflation stood at 10.60 per cent and 15.17 per cent, respectively.

The primary articles price index was up 11.75 per cent, compared with an annual rise of 11.18 per cent a week earlier.

The Reserve Bank of India (RBI) raised interest rates on Tuesday for the 13th and possibly final time in a tightening cycle that began in early 2010, on expectations that persistently high inflation will finally begin to ease starting in December.

The RBI raised its policy lending rate, the repo rate, by 25 basis points to 8.5 per cent, continuing a fight against inflation that has topped 9 per cent for nearly a year and putting it at odds with global peers more concerned about weak growth.


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Food Inflation Soars Again; Hits 11.43% YoY

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