INDIA'S FOOD INFLATION EDGES HIGHER, FUEL PRICES STEADY

Food prices in the country inched up in the week ended May 8 while prices of non-food articles declined and that of fuel items remained steady, data released by the Government showed. Inflation in the Food Articles group rose to 16.49% at the end of the first week in May as against 16.44% in the week ended May 1, the Commerce & Industry Ministry said. It stood at 8.28% in the corresponding period last year. The WPI for the Food group declined to 293.9 from 294.0. Inflation in the Primary Articles group softened to 16.19% in early May compared with the previous week's annual reading of 16.76%. Inflation in the group stood at 6.67% during the week ended May 9, 2009. The WPI for this group declined by 0.1% to 299.2. Non-food Articles' inflation fell sharply to 18.68% in the week ended May 8 from 21.24% in the preceding week. Inflation in this group stood at 3.3% in the year-ago period. The WPI for this group declined by 0.4% to 282.1. India's Fuel price inflation remained steady at 12.33% in the week under review while the same was at -6.17% during the corresponding week of the previous year. The WPI for this group remained unchanged at its previous week’s level of 365.3.