Food inflation shot up to 14.12 per cent in December from 10.01 per cent in November on account of rising prices of vegetables and pulses
Though this is temporary, a sustained situation like this would mean weakened ability to handle the slowdown, especially for the poorest
In Nov, retail inflation had jumped to a more than three-year high of 5.54 per cent on costlier food products
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The states that witnessed high CPI-based inflation rates were Lakshadweep, Tripura, Odisha, Uttar Pradesh, Kerala, Madhya Pradesh, Puducherry, Tamil Nadu, Rajasthan, Manipur and Mizoram
Albeit for a brief period during monsoon and afterwards, retail price of tomato went up to Rs 80 per kg
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Food prices rose the fastest in 5 years for the month in villages
Inflation in the food basket jumped to 10.01%. This compares with 7.89% October and (-) 2.61% in the year ago-month
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The report said even as food CPI will remain elevated, core CPI will go below 3 per cent in this fiscal.
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But core inflation, which excludes the volatile components of food and fuel, stood at 3.3 per cent in October; this is its lowest in eight years
Inflation in the food basket spiked to 7.89 per cent in October 2019, against 5.11 per cent the previous month.
Prices of most vegetables climbed during the month as monsoon downpours delayed harvests and disrupted supplies.
The inflation print for vegetables shot up to 15.40 per cent during the month
CPI-based inflation for first half of the next fiscal, beginning April 2020, has been projected at 3.6 per cent
The inflation in the food basket was 2.36 per cent in July, marginally up from 2.25 per cent in the previous month
BENGALURU (Reuters) - India's retail inflation rose for the sixth straight month in July - the longest stretch of monthly increases since January 2016 - to a nine-month high, largely due to a continued rise in food prices, a Reuters poll predicted.
Annual retail inflation in June was 3.18%, up from 3.05% in the previous month.