The current inflation figures, released by the FBS on Wednesday, are even higher than government estimates in the Economic Survey that inflation would be just over 11 percent by the end of this fiscal year. But it may go to over 12 percent if it kept the pace with which it has been increasing. The CPI inflation reached 11.11 percent in May over 10.27 percent of April.
Food inflation increased in May by 28.48 percent over the same month of last year. The overall inflation was recoded 19.27 percent in May over same month of last year. There was an increase of 4.20 percent in food inflation in May over April because of high prices of wheat, fruits, vegetable, pulses and edible ghee and oil.
The Consumer Price Index (CPI) Sensitive Price Indicators (SPI) and Wholesale Price Indicator (WPI) for 2007-8 increased by 11.11 percent, 15.56 percent and 15.06 percent, respectively, over the corresponding period of 2006-07.
There has been an increase of 33.13 percent in non-perishable food items and 1.19 percent in perishable food items. Apparel, textile and footwear prices increased by 9.39 percent, house rent surged by 12.05 percent, fuel and lighting 9.50 percent, and household furniture and equipment 9.82 percent. Transport and communication prices surged by 19.14 percent, recreation and entertainment by 9.72 percent, education 7.90 percent, cleaning, laundry and personal appearance by 16.62 percent while medicare cost surged by 14.06 percent in May over same month of last year.
The main commodities which showed an increase in their prices during May 2008 over April 2008 in Food & beverages group included rice (35 82 percent), onions (32 71 percent). tomatoes (20.26percent). besan (26.99 percent) pulse gram (26.71 percent), pulse masoor (25.86 percent) maida (11.59 percent), sugar (10.32 percent), ghee (9.18 percent), wheat flour (9.17 percent), pulse moong (8.93 percent), beverages 18 92 percent, gram whole (8.41 percent), fresh fruits (5.39 percent), cereals (4.98 percent), wheat (4.82 percent), spices (4,34 percent), mustard oil (3.64 percent), sweetmeat and nimco (3.59 percent), milk fresh (3.29 percent), vegetable ghee(2.79 percent), pulse mash (2.57 percent), milk products (2.36 percent). milk powder (1 68 percent), meat (1.34 percent), bakery and confectionery (1 32 percent), fish (1 09 percent), and tea (0.88 percent).
In apparel, textile and footwear, tailoring charges (2.19 percent), cotton cloth (1.80 percent), linen, woollen cloth (1 16 percent). Fuel and lighting price of match box increase by 47.96 percent, kerosene 7.44 percent, and firewood 1.26 percent.
MEDICAL CARE: doctor's fee increased by 941 percent and drugs and medicines 3 00 percent.
WHOLESALE PRICE INDEX: Wholesale price index of May 2008 increased by 4.30 percent over last month, while it increased by 23.50 percent over the corresponding period of last year with 28.77 percent increase in food inflation, 14.29 percent in raw material, and 45.82 percent in fuel, lighting and lubricants.