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Retail Inflation increased to 10.36% in May 2012 due to Rise in Vegetable & Edible Oil Prices

Economy Current Affairs 2012. Retail inflation increased to 10.36 per cent in May due to rise in prices of vegetables, edible oils and milk. Vegetable prices moved up by 26.59 per cent thereby recording the maximum spurt in prices

 

Jun 18, 2012 14:47 IST
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As per the official data released by the Union government on 18 June 2012, retail inflation increased to 10.36 per cent in May due to rise in prices of vegetables, edible oils and milk.

Vegetable prices moved up by 26.59 per cent thereby recording the maximum spurt in prices. Vegetable prices were followed by edible oils which moved up by 18.21 per cent and milk products by 13.74 per cent in May, year-on-year basis. Egg, fish and meat prices shot up 10.50 per cent, while non-alcoholic beverages became expensive by 9.44 per cent. Both sugar and pulse & pulse products saw a marginal rise in May 2012.

Prices of cereal and its products increased by 4.79 per cent over the May 2011 level, while prices of fuel and light, and clothing, bedding and footwear segments remained in the double-digit.

Inflation rates for rural and urban areas were 9.57 per cent and 11.52 per cent respectively in May. Inflation rates for rural and urban areas were 9.67 per cent and 11.10 per cent respectively in April.

Inflation based on Wholesale Price Index data released in the week ending 16 June 201 was found to have risen to 7.55 per cent in May due to spurt in prices of potato, pulses and wheat. Potatoes had turned costlier by 68.10 per cent during May2012 on annual basis. Besides, pulses and wheat turned expensive by 16.61 per cent and 6.81 per cent.
Based on the Consumer Price Index (CPI), the inflation for April was revised to 10.26 per cent from the provisional estimate of 10.32 per cent.

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