December 14, 2009 6:17 PM

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FM attributes spurt in inflation to rising food prices

Finance Minister Mr Pranab Mukherjee attributed the 4.78 per cent spurt in inflation in November to rising prices of food articles. Mr Mukherjee told reporters in New Delhi that inflation has risen high mainly because the food article prices have gone up.The inflation, according to the monthly data released today, has shot up from 1.34 per cent in the previous month to 4.78 per cent in November, registering a more than three-fold increase.Mukherjee further said that rise was more evident in the Consumer Price Index (CPI) than in the Wholesale Price Index (WPI) as food items have higher weightage in the CPI.The Finance Secretary Ashok Chawla said the spike in inflation was on expected lines and does not call for any immediate action. Mr Chawla said rising prices of commodities has always been a matter of concern for the government.

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