Rising for the second consecutive month,inflation shot up to 5.79 per cent in July,driven largely by rise in prices of food articles,mainly vegetables,including onion. Inflation based on the Wholesale Price Index (WPI) had stood at 4.86 per cent in June. In July,2012,it was 7.52 per cent.
As per official data released today,WPI inflation in the food articles category rose to double digits at 11.91 per cent,driven mainly by price rise in onion,cereals and rice.
The rate of price rise in food articles,which has a 14.34 per cent share in the WPI basket,was at 9.74 per cent in June. The inflation in the food articles category rose for the third straight month.
Inflation in onion shot up by 145 per cent in July on an annual basis.