Retail inflation eases to 9.31% in May, cereal prices rise most

Jun 13 2013, 04:01 IST
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SummaryRetail inflation stood at 9.31 per cent in May, falling for the third straight month, due to easing of prices of edible oil and protein-based items, even as vegetable prices inched up sharply.

Retail inflation stood at 9.31 per cent in May, falling for the third straight month, due to easing of prices of edible oil and protein-based items, even as vegetable prices inched up sharply.

The Consumer Price Index (CPI)-based inflation stood at 9.39 per cent in April. It was 10.39 per cent in March.

The overall food and beverages segment saw an inflation of 10.65 per cent in May, higher than 10.61 per cent in April. The prices in the vegetables basket rose sharply to 9.78 per cent in May from 5.43 per cent in April, according to data released on Wednesday.

However, inflation in protein-based items — egg, meat and fish — declined to 12.52 per cent during the month, from 13.60 per cent in April. In oils and fats segment, it was 5.49 per cent, down from 7.52 per cent in April. Among all the constituents that make the CPI, cereals recorded the highest inflation of 16.29 per cent in May. Inflation in pulses stood at 9.59 per cent and in sugar it was 9.21 per cent on an annual basis.

In urban areas, retail inflation declined to 9.65 per cent in May from 9.73 per cent in April. The CPI for rural population fell to 8.98 per cent during the reported month from 9.16 per cent in April.

The data for wholesale price index-based inflation for May is expected on Friday. The WPI in April eased to over three-year low of 4.89 per cent.

The inflation numbers coupled with the slowdown in industrial production saw the BSE Sensex slip 102 points to 19,041.13, a level not seen since April 18. The NSE Nifty was down 28.60 points at 5,760.20.

Low industrial growth a wake up call for policy makers: SBI chief

Mumbai: State Bank of India chairman Pratip Chaudhuri on Wednesday said the continued environment of gloom as reflected in the index of industrial production data is a “wake up” call for policy makers to take urgent corrective steps.

“This (the slowdown in growth) is very worrisome ... I think the industrial sector really needs attention and the IIP growth at 2 per cent for April, (while) we have been expressing satisfaction that GDP growth is at 5 per cent,” Chaudhuri said.

On poor industrial growth in April, Chaudhuri said: “The industry component at 2 per cent is a great matter of worry. Everybody, the policy makers, as also people in the field need to give it

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