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Inflation down to 4.68%
Inflation has come down to 4.68%. This is the lowest recorded in the last 9 months.
The reduction in the prices of onion & potato is one
of the main reasons for inflation rate coming down. Reduced inflation raises
the possibility of reduction in the loan interest in the coming quarter.
Reserve Bank is set to release its Finance Policy on 9th April. Inflation of food prices is
based on wholesale price Index (WPI). The inflation during February was 8,12%.
In January, it was 8.8%. The reason was that the prices of most commodities
were stable. However, the prices of milk & fruits have increased.
Inflation had shown the trend of reduction from January,
when it was 5.05%. Last May (2013), WPI was 4.56%. Last June, it rose to 5.16%.
Onion prices rose by 20.08% and potato prices by 8.36% in
a quarter.
The prices of vegetables have come down overall by 3.99%. This was 16.6% in January. The prices of wheat and cereals also reduced.
However
the prices of fruits and protein-rich items such as fish & egg have
increased. Prices of fruits rose by 9.92%. It was 5.32% in January. The prices
of milk rose to 8.45% from 7.22%. The prices of sugar and cooking oil rose by
2.75%.
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