According to government data released Thursday, inflation rate for food articles was at 1.60 per cent in May 2018, as against 0.87 per cent in the preceding month.
The Reserve Bank of India further said that impact of the revision in the MSP formula for kharif crops is not possible to assess at this stage in the absence of adequate details.
Pronouncing the rebirth, or even significant acceleration in inflation, may be a trifle premature
An unfavourable base effect also pushed WPI inflation higher. In the WPI data, inflation rate for food articles rose to 0.87% in April against deflation of 0.29% in last month.
In case of railways, price movement would be tracked for freight tariff and passenger fares. On the other hand, the index of banking would include direct services and fees.
According to the survey, the average Mumbai resident thought the inflation rate in March was 8 per cent compared to 7.6 per cent in the December round.
At 4.44 per cent, the inflation rate based on Consumer Price Index (Combined) for February is sharply lower than the 5.1 per cent inflation rate estimated by the Reserve Bank of India (RBI) for the January-March quarter.
Some of the stations to be included in the protests are Borivali, Malad, Andheri, Santacruz, Bandra, Dadar on both CR and WR, Mumbai Central, Ghatkopar, Mulund, Sion, Matunga, Vikhroli.
The Reserve Bank of India (RBI) on Wednesday projected a higher inflation of 5.1-5.6 per cent in the first half of fiscal 2019 before moderating to 4.5-4.6 per cent in the second half with upside risks.
Industry chamber FICCI said continued efforts of the government to strengthen food supply mechanism can help in bringing down food inflation further.
Among the IIP’s nine broad categories, manufacturing sector, which accounts for 77.63 per cent of IIP, grew 10.2 per cent in November from 4 per cent a year ago.
It was 3.59 per cent in October this year, and 1.82 per cent in November last year.
Consumer food price index rises to 4.42%; manufacturing, consumer durables witness a slump.
Apart from retail inflation, the other key data point for RBI’s action is the GDP growth print due later this month.
For vegetables, it soared to 36.61 percent last month as against 15.48 percent in September. In case of onions, inflation skyrocketed to 127.04 percent, while for the eggs, meat and fish segment the rate of price rise was 5.76 per cent.