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Thursday August 28th 2014

Food Inflation at 8.55 Per Cent for week ending May 14th 2011

For almost 3 weeks the Food inflation has been declining and that has halted now , food inflation surged to 8.55 per cent for the week ended May 14 from 7.47 per cent in the previous week, The main reason is increase in prices of fruits, milk and protein-based items.The fresh spike in food inflation is not good news, either for the consumer who has been groaning under the overall inflationary impact or the government which has been striving to contain the price spiral. For one, the increase in petrol prices by Rs.5 a litre with effect from May 14 is yet to be factored into the WPI (wholesale price index) data and this will be reflected in the data for the week ended May 21.