Food inflation a matter of grave concern: Mukherjee

   Nov 3, 7:30 pm

New Delhi, Nov 3 (ANI): Union Finance Minister Pranab Mukherjee on Thursday expressed concern over the food price index, as it rose from 11.43 percent to 12.21 percent, its highest in nine months.

"Inflation is still matter of grave concern therefore we shall have to see of course, this is the effect of this week of the festive seasons. So, November figures onwards the real trade for the remaining period of four months would be available," Mukherjee told media here.

He said food inflation was still high and is hovering dangerously above the double-digit mark.

Meanwhile, government data shows that the fuel price index climbed 14.50 percent in the year to October 22.

The primary articles price index was up 12.08 percent, compared with an annual rise of 11.75 percent a week earlier.

The RBI raised interest rates last month for the 13th and possibly final time in a tightening cycle that began in early 2010, on expectations that persistently high inflation will finally begin to ease starting in December. (ANI)

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