May inflation at five-month high on expensive food items
Moneylife Digital Team 16 June 2014

Expensive food items and beverages like coffee, tea, poultry, fish and vegetables pushed the WPI inflation in May to over 6%

Rising prices of food and beverages like coffee, tea, poultry, fish and vegetables pushed up inflation to a five-month high of 6.01% in May against 5.20% in the previous month. The wholesale price index (WPI)-based inflation was 5.20% in April and 4.58% a year ago in May.

 

According to the data released by the Commerce and Industry Ministry on Monday, food items whose prices rose the most during the month include coffee (23%), poultry chicken (7%), fish-inland (6%), tea, fruits, and vegetables (4% each).

 

The other items in the primary articles segment that became dearer are condiments and spices, fish-marine, urad, and masur (3% each); rice and moong (2% each); and milk, barley, pork, mutton and arhar (1% each).

 

However, the prices of maize came down by 5%, wheat and ragi by 2% each; egg, jowar and gram came down by 1% each.

 

In the 'non-food articles' category, guar seed became expensive by 13%, soyabean (10%), copra (coconut) (8%), tobacco (7%), raw jute (5%), raw silk (3%), mesta (2%); and groundnut seed, raw cotton and cotton seed (1% each).

 

However, the data showed, the price of gingelly seed and flowers declined by 8% each, fodder by 3% and linseed, castor seed and sunflower by 1%.

 

The inflation figures for March were revised to 6% from 5.70% reported earlier. The previous high was 6.4% in December.

Comments
Free Helpline
Legal Credit
Feedback