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Common man continues to pay high prices for items of daily use

Updated: Jun 12, 2013 04:54:49pm
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Kolkata, Jun 12 (KNN) Though the inflation measured by the Wholesale Price Index (WPI) has come down significantly, consumers continue to pay high prices at the retail level as is reflected in the Consumer Price Index (CPI) data released today.

Retail prices of items such as cereals, eggs, non-alcoholic beverages, vegetables etc. went up by over near about 10 per cent in May 2013 when compared to a year ago.
India's annual CPI slowed for the third straight month in May to 9.31 per cent, according to the government data.

Consumer prices rose to an annual 9.39 per cent in April.

While food prices rose an annual 10.65 per cent in May, slightly faster than an annual rise of 10.61 per cent in April, prices of the vegetables rose sharply to 9.78 per cent in May from 5.43 per cent in April, it said.

However, inflation of protein-based items - egg, meat and fish; declined to 12.52 per cent during the month, from 13.60 per cent in April.  In the oils and fats segment, it was 5.49 per cent, down from 7.52 per cent in April.

Among all the constituents that make the CPI, cereals recorded the highest inflation of 16.29 per cent in May.  Besides, inflation in pulses stood at 9.59 per cent and in sugar it was 9.21 per cent on an annual basis.
 
The rate of price rise in clothing and footwear segment stood at 9.72 per cent during the month. In urban areas, retail inflation declined to 9.65 per cent in May from 9.73 per cent in April.

The CPI for rural population fell to 8.98 per cent during the reported month from 9.16 per cent in April.

The data for wholesale price index-based inflation for May is expected on Friday. The WPI in April eased to over three-year low of 4.89 per cent.
 
Unlike most central banks, the Reserve Bank of India mainly uses the WPI for setting up its monetary policy.  (KNN)
 

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