Food inflation at 9.03 pct y/y as on Aug 6

NEW DELHI |
Thu Aug 18, 2011 11:43am IST

NEW DELHI (Reuters) – India’s food price index rose 9.03 percent and the fuel price index climbed 13.13 percent in the year to Aug. 6, government data on Thursday showed.

In the previous week, annual food and fuel inflation stood at 9.90 percent and 12.19 percent respectively.

The primary articles index was up 11.64 percent, compared with an annual rise of 12.22 percent a week earlier.

India’s central bank has raised interest rates 11 times since March 2010 to tame headline inflation , which stood at 9.22 percent in July.

A top policy adviser on Tuesday said India’s headline inflation is likely to stay at around 9-10 percent until December.

Reserve Bank of India (RBI) Governor Duvvuri Subbarao last week said it was important to bring down inflation to sustain growth and that it was too early to signal a change in monetary stance, suggesting the central bank may not be done with monetary tightening.

(Reporting by Rajesh Kumar Singh; editing by Malini Menon)

Article source: http://feeds.reuters.com/~r/reuters/INbusinessNews/~3/QLJ45Iwsnqk/idINIndia-58842920110818

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