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The annual food inflation rate has increased to 9.01 per cent for the week ended May 28, from the previous week's 8.06 per cent.
This is the highest year-on-year increase registered by the wholesale price index for ‘food articles' since the 10.95 per cent of April 2, which fell to a low of 7.47 per cent for the week ended May 7, before resuming its upward climb.
The food inflation rate continues to exhibit volatility despite a bumper rabi crop this time. In absolute terms, however, the latest recorded ‘food articles' index of 187.5 (base 2004-05=100) is below the 196.5 at the start of 2011 and the peak 196.6 touched on December 25.
The 9.01 per cent food inflation for the week under review was mainly led by fruits (30.78 per cent year-on-year price increase), followed by onion (14.02 per cent), milk (8.49 per cent), and egg, meat and fish (6.99 per cent). On the other hand, the inflation rate was only 0.9 per cent in wheat, 2.69 per cent in rice, minus 2.87 per cent in potatoes and minus 9.49 per cent in pulses.
Non-food articles
Among non-food articles, the inflation rate amounted to 12.46 per cent for the ‘fuel and power' sub-group, with this mainly on account of petrol (33.23 per cent, reflecting the recent price hikes by oil marketing companies). The annual price increase stood at 11.31 per cent for LPG and 5.64 per cent for diesel.
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