Retail inflation rises
Reaches 8.83 per cent in February 2012.March 20, 2012 | comments ( 0 ) |
Retail inflation in India has reached an elevated level of 8.83 per cent in February this year, as compared to 7.56 per cent in January. The driving factor behind this inflation is high prices of manufactured goods and protein-based items, such as milk, eggs, meat and fish.
The Consumer Price Index (CPI) was also reported to have reached a higher rate of price rise in the wholesale market during the month.
During February, retail prices of egg, meat and fish rose by 10.62 per cent, while milk and milk products turned costlier by 15.76 per cent, year-on-year.
While cereals and products reported a moderate rate of price rise at 2.40 per cent in February, pulses and products saw a rise of 4.17 per cent. The only item that saw a decline of 4.73 per cent was vegetable.
Inflation in the oil and fat category shot up by 12.76 per cent and condiment spices became costlier by 8.68 per cent on an annual basis.
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