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India’s annual inflation eases to single digit

New Delhi, Aug 16 (IANS) Helped by food prices cooling somewhat, India’s annual inflation slipped just below double digits to 9.97 percent in July, compared to 10.55 percent the previous month, official data released Monday showed.

The annual inflation figure, based on whoesale prices, is a more broad-based barometer of the price change in items.

May’s wholesale price index (WPI) was revised upwards to 11.14 percent from 10.16 percent.

Data released by the commerce ministry showed that prices of food articles spiked slightly at 14.94 percent last month, against 14.6 percent in June, while those for fuels increased 14.29 percent in the month under review.

Fuel prices were up 14.32 percent in June.

Prices of primary articles went up by 14.94 percent in July, climbing slightly faster from the 14.6 percent-level in June.

Manufactured products became expensive by 6.15 percent during the month under review.

In his Independence Day address to the nation Sunday, Prime Minister Manmohan Singh expressed confidence that high inflation would be tackled in the coming months.

Latest food inflation figures have shown a slight spike after dipping for two straight weeks. Food inflation rose again to double digits at 11.4 percent for the week ended July 31, from 9.53 percent a week earlier.

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