Inflation hit double digits as it rose to 10.16 per cent in May from 9.59 per cent in April. This follows elevated food prices and certain manufactured items like metals turning expensive. The double digit inflation in May was partly attributed to low base of 1.38 per cent a year ago. Food inflation remained at enhanced level of 16.49 per cent despite moderation from 16.87 per cent in the previous month. Among manufactured items, wood products prices rose by 8.8 per cent due to higher rates of plywood commercial planks. Metal prices on an average rose by 3.4 per cent. Within this category, prices of stainless steel rose by 26 per cent, and that of steel sheets, plates and strips by 14 per cent. Among primary or raw food items, tea turned costlier by 21 per cent, urad by 5 per cent and moong by 3 per cent.
News On AIR | June 14, 2010 2:29 PM
Inflation hit double digit rose to 10.16 % in May