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India’s Food Inflation At 7.58% Year-On-Year As On July 9

21 July, 2011

India’s food price index rose 7.58 per cent and the fuel price index climbed 11.89 per cent in the year to July 9, government data on Thursday showed.

In the previous week, annual food and fuel inflation stood at 8.31 per cent and 11.89 per cent, respectively.

The primary articles price index was up 11.13 per cent, compared with an annual rise of 11.58 per cent a week earlier.

India’s central bank is expected to raise its key policy rate by a further 25 basis points next week after inflation accelerated in June and may hike once more by the end of the year, before pausing its long tightening campaign, the latest Reuters poll showed on Wednesday.

The wholesale price inflation quickened in June to an annual 9.44 per cent from 9.06 per cent in May, driven by higher prices of manufactured goods and fuel, even though the economy showed signs of cooling.

The Reserve Bank of India (RBI) is expected to raise rates for the 11th time since March 2010 at its monetary policy review on July 26 to combat sticky inflation.

 


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India’s Food Inflation At 7.58% Year-On-Year As On July 9

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