SME Times News Bureau | 16 Apr, 2014
Country's retail inflation rose to 8.31 percent in March from 8.03 percent in
the previous month, led by higher food prices, government data showed
Tuesday.
According to data released by the Central Statistics
Office (CSO), the Consumer Price Indices (CPI) based inflation
accelerated to 8.89 percent for rural areas in March from 8.43 percent
recorded in the previous month.
However, for urban areas, CPI
based inflation declined marginally to 7.51 percent during the month
under review from 7.55 percent recorded in February.
Food and
beverages prices rose by 9.10 percent in March year-on-year. Vegetables
became costlier by 16.80 percent and fruits became costlier by 17.19
percent in retail markets during the month under review.
Food prices rose sharply in the wholesale markets also.
According
to data released by the ministry of commerce and industry earlier in
the day, wholesale price based inflation rose to three months' high of
5.7 percent in March from 4.68 percent in the previous month.
The
rise in inflation will force the Reserve Bank of India (RBI) to
maintain a tight monetary policy, even though it is hurting growth.
