19.5.12

Retail inflation



Spiralling prices of vegetables, oils and fats, milk and milk products pushed consumer price inflation to double digits in April in yet another hurdle to the Reserve Bank of India’s efforts to ease interest rates. The double digit retail inflation also poses fresh challenges for the UPA government which has been on the back-foot for its handling of the economy. 
Data released by the Central Statistics Office showed annual inflation rate based on all-India general CPI (combined) for April on point-to-point basis (April 
2012 over April 2011) at 10.36%, against 9.38% for March. The inflation rates for rural and urban areas for April stood at 9.86% and 11.10% while the final inflation rates for rural and urban areas for March are 8.70% and 10.30% respectively, the statistics office said in a statement. The data showed oils and fats prices rose an annual 17.63% in April across the country while in urban areas, it rose 19.73% year-on-year. In rural areas, prices of oils and fats rose an annual 16.65%.  Vegetable prices shot up an annual 24.55% in April. In urban areas, they rose 32.43% year-on-year while in rural areas, vegetable prices rose 21.27% year-on-year. Milk and milk product prices rose an annual 14.94% in April across the country while in urban areas, they rose 13.85% and in rural areas an annual 15.70%. 
    

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