Pulses, edible oil, eggs, meat, fish… retail inflation rises to four month high
Retail inflation is on the rise in India as the consumer price index, or CPI, rises to a four month high of 5.52%. CPI denotes inflation in the economy by compiling the change in prices of most common goods and services used by consumers.
The food inflation rose to 6.64 per cent in urban areas while it rose to 3.94 per cent in rural areas. The rural areas have witnessed a multi-fold rise in food inflation, the CPI data showed. Flickr
Apart from the rising COVID19 cases in the country, the citizens, both urban and rural residents, have one more critical worry — the rising inflation. Food prices, including that of edible oils, fish, meat, pulses, eggs, are at an all time high in the last four months. Vegetable prices though have dropped.
Two days back, on April 12, the Union Ministry of Statistics and Programme Implementation released its data for the Consumer Price Index (CPI) for the month of March on April 12. The CPI rose to 5.52 per cent — a four month high.
India uses CPI as a measure of its inflation. It denotes inflation in the economy by collecting the change in prices of most common goods and services used by consumers.
The CPI for the last three months (before March 2021) was 5.03 per cent in February, 4.06 per cent in January and 4.59 per cent for December 2020.
The rise in retail inflation in March this year can mainly be attributed to the rise in the prices of food and edible commodities. The Consumer Food Price Index (CFPI), or the inflation in the food basket, rose to 4.94 per cent in the month of March, up from 3.87 per cent in February, the data revealed.
The food inflation rose to 6.64 per cent in urban areas while it rose to 3.94 per cent in rural areas. The rural areas have witnessed a multi-fold rise in food inflation, the CPI data showed.
The rise in the food prices was led by a rise in prices of oils and fats which soared by a sharp 24.92 per cent in March, while the prices of meat and fish rose 15.09 per cent, the ministry data showed.
Retail inflation of non-alcoholic beverages rose by 14.41 per cent while pulses and products also witnessed a rise of 13.25 per cent and egg prices also rose 10.60 per cent. Vegetable prices, however, came down by -4.83 per cent in March.
The rate of inflation for edible commodities was 2.89 per cent in February while it was stated to be 1.11 per cent in January.
Meanwhile, inflation for housing increased to 3.50 per cent, while that for miscellaneous items rose to 6.88 per cent in March.
Within the miscellaneous items, the inflation for transport and communication increased to 12.55 per cent, education 2.50 per cent, household goods and services 3.28 per cent, recreation and amusement 6.12 per cent, while it eased for personal care and effects 5.92 per cent and health 6.17 per cent in March 2021.