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Rediff.com  » Business » Retail prices jump by 11%

Retail prices jump by 11%

Source: PTI
April 04, 2008 17:30 IST
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Retail prices of gram, sugar, mustard oil, vanaspati and onion have increased by up to 11 per cent in the national capital in last one month, fueling the inflation rate to rise to 39-month high of seven per cent.

The prices of gram (chana) rose by 2.7 per cent to Rs 38 per kg on April 1 as against Rs 37 a month earlier, according to the data provided by the Department of Consumer Affairs.

Sugar prices increased by nearly 6 per cent at Rs 18 per kg, mustard oil by 2.6 per cent to Rs 77 per kg, vanaspati by 10.14 per cent at Rs 76 per kg and onion by 11.11 per cent at Rs 10 per kg.

However, prices of rice, wheat, atta, tur, groundnut oil, milk, potato and salt remained stable during the last one month while tea (loose) became cheaper.

Rice is available in the retail market at Rs 18 per kg, while wheat at Rs 13 a kg, atta Rs 14, tur Rs 42, groundnut oil Rs 121, potato Rs 9.

The wholesale price-based inflation rose to 7 per cent in the week ended March 22 from 6.68 per cent in the previous week as prices of vegetables, cereals and various manufactured goods continued to rise.

The government has announced plethora of measures to rein in the rising inflation, including scrapping of customs duties on all crude edible oils, reduction of duties on refined edible oils, ban on exports of non-basmati rice and increase in export price of basmati rice.

The impact of these decisions would be felt only in next 7-10 days at the retail level, traders said.

According to the inflation data, prices of fruits and vegetables went up by one per cent, gram by three per cent, masur by two per cent while urad and moong, eggs, meat and fish got dearer by one per cent each.

Inflation hits a high of 7%

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