CPI-based inflation up 7.6 percent in January

CPI-based inflation up 7.6 percent in January

By: || Updated: 21 Feb 2012 03:43 AM


New Delhi:
Inflation based on the all India Consumer Price Index stood at 7.65 per
cent in January, as per the first nation-wide retail inflation data
released by the government on Tuesday.

While ‘food and
beverages’ reported a moderate rate of price rise of 4.11 per cent
year-on-year in January, the inflation numbers for fuel and light, and
clothing, bedding and footwear segments were in double-digits. Overall
retail inflation in rural and urban areas stood at 7.38 per cent and 8.25
per cent in January, respectively.

“There was a long pending
demand of ministries and various users for a comprehensive consumer
inflation rate. To meet this demand, annual inflation rates based on this
broad based CPI series for January 2012 are released today,” Minister of
State (Independent Charge) in the Ministry of Statistics and Programme
Implementation Srikant Jena said. The all India CPI will be in addition to
the three retail price indices —— for agricultural labourers, rural
labourers and industrial workers —— prepared by the Ministry of
Labour.

The new nationwide CPI is being prepared by the Ministry
of Statistics and Programme Implementation (MOSPI) and is eventually
expected to replace the Wholesale Price Index (WPI) as the benchmark
inflation. Vegetables were cheaper by over 24 per cent on a nationwide
basis in January over the same month last year. However, other food and
beverages reported a rise in prices.

In rural and urban areas,
inflation in the category stood at 4.18 per cent and 3.98 per cent,
respectively. Milk and milk products became 16.53 per cent more expensive
on an annual basis, while price of oils and fats went up by 13.47 per cent
in January. Condiments and spices became dearer by 11.83 per cent and
fruits by 10.62 per cent in the month.





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