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Food inflation rises again to touch 16.4%.

FOOD inflation rose to 16.44 per cent for the week ended May 1 as vegetables and fruits turned costlier. Annual food inflation in the last week was 16.04 per cent.

On an annual basis, pulses turned costlier by 32.49 per cent and fruits by 15.51 per cent.

Week- on- week, potato turned dearer by 5.95 per cent, tea by five per cent, fruits and vegetables two per cent while urad, arhar, masur, condiments and spices rose by one per cent each.

Senior officials are concerned over the huge difference in the farmgate prices and those that consumers pay at the retail level.

This is attributed to middlemen exploiting inflationary expectations.

" The trend of rising food inflation would continue for some more time till the effect of normal monsoon becomes visible.

We expect some easing in the second half of the current fiscal," rating agency Crisil's principal economist D. K. Joshi said.

On Wednesday, RBI deputy governor Subir Gokarn had said overall inflationary pressure is starting to become visible.

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Publication:Mail Today (New Delhi, India)
Date:May 14, 2010
Words:190
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