Junk the food
We are scarcely immune to media hype. Guided by the profit motive, the food conglomorates shape and restrict what we…
Wholesale inflation soared to 3.55 per cent in July as against 1.62 per cent in June due to higher prices of vegetable and pulses.
Wholesale price index (WPI) inflation in vegetables jumped by 28.05 per cent in July, while that in pulses rose 35.76 per cent year on year.
Potato price rose during the month at 58.78 per cent.
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Overall the food inflation basket showed double digit inflation of 11.82 per cent, according to the Commerce Ministry data.
All food items, barring onion, witnessed price rise. Onion price slumped over 36% during the month.
The inflation numbers were as expected. RBI Governor Raghuram Rajan, on Aug 9, had kept key interest rates unchanged, saying that inflation could rise in the near future.
Meanwhile, the WPI inflation for May has been revised upwards at 1.24 per cent, against provisional estimate of 0.79 per cent.
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