Home / Business / Food prices soar as August inflation rises to 6.1 pct

Food prices soar as August inflation rises to 6.1 pct

NEW DELHI (Reuters):

India’s headline inflation rose at the fastest pace for six months in August, driven by an 18 percent jump in food prices, a reminder of the economic pressure new central bank governor Raghuram Rajan faces ahead of his first policy meeting this week.

Government data on Monday showed a reading of 6.1 percent, higher than the 5.80 percent rate estimated by analysts in a Reuters poll. Food prices soared 18.18 percent.

The wholesale price index — India’s main inflation measure — rose an annual 5.79 percent in July.

The reading for June was revised to 5.16 percent from 4.86 percent, data released by the Ministry of Commerce and Industry showed.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Pinterest