Retail inflation rises to 9.47%
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The retail price inflation rose 9.47 per cent in March on back of high prices of milk and products, clothing, bedding and footwear and fuel and light.
According to data released by the government today, retail inflation, based on the Consumer Price Index (CPI), stood at 8.83 per cent in February.
The increase in retail inflation was sharper in March as against February and January (7.65 per cent).
This primarily was due to 15.22 per cent growth in milk and milk products along with 12.5 per cent rise in clothing and bedding.
Oils and fats rose 14.20 per cent; egg, fish and meat 10.06 per cent while vegetables turned dearer by 9.55 per cent and non-alcoholic beverage rate jumped 10.2 per cent. The food and beverages category that accounts for almost half of the total index, rose 8.22 per cent in March year-on-year.
The CPI-based inflation was started in February to give the government a better idea of price movement as compared to the Wholesale Price Index (WPI).
Retail inflation for rural and urban areas were 8.79 per cent and 10.30 per cent respectively, suggesting that prices rose faster in cities than in villages.
On Wednesday, Finance Minister Pranab Mukherjee said high level of inflation would persist and there was no escape from it.