Inflation soars to 6.1 pc on high food prices

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SME Times News Bureau | 16 Sep, 2013
Country's wholesale price based inflation rose to 6.1 percent in August, the sharpest pace in six months, driven by more than 18 percent jump in food prices, government data showed Monday.

The headline inflation, measured in terms of the Wholesale Price Index (WPI), accelerated to 6.1 percent in August as against 5.79 percent in July.

Inflation was recorded at 8.01 percent during the corresponding month of the previous year, according to data released here by the ministry of commerce and industry.

There was a steep rise in food prices. Food inflation jumped to 18.18 percent in August as compared to 9.34 percent recorded in the corresponding month of last year.

Prices of vegetables almost doubled. Onion price soared by 244.62 percent year-on-year.

Eggs, meat and fish became costlier by 18.86 percent. Rice became costlier by 20.13 percent. Wheat price jumped by 7.6 percent and prices of cereals soared by 14.35 percent.

The headline inflation data for June was revised upward to 5.16 percent from 4.86 percent reported earlier.

In August, there was a sharp increase in fuel and power and primary articles prices also. Primary articles inflation soared to 11.72 percent. Fuel and power inflation jumped to 11.34 percent.