Highlights

Consumer price inflation hits 16 month high
Inflation much above street estimates for the month of March
CPI inflation above 6% for third straight month

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CPI soars to 6.9%, Food inflation skyrockets to 7.6%

Name: CPI soars to 6.9%, Food inflation skyrockets to 7.6%
Uploaded: 2022-04-12T17:31:07.000+05:30
Duration: T00M38S
Channel: EJ Biz Desk
Description: Consumer Price Index (CPI) for Inflation soared to a 16-month high to 6.95% for the month of March way beyond wat economists were anticipating. This marks the third month of price rise index being above the 6% mark which is mai...

Inflation in Oil & Fats sub-category rose 18.7%, as consumers see prices of edible oil burn budgets

Updated: Sep 02, 2022 10:53

EJ Biz Desk

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CPI soars to 6.9%, Food inflation skyrockets to 7.6%

Consumer Price Index (CPI) for Inflation soared to a 16-month high of 6.95% for the month of March way beyond what economists were anticipating. This marks the third month of price rise index being above the 6% mark which is maintained as the RBI's 'tolerance zone'.

The real culprit as anticipated is oil, and more specifically edible oil. The sub-category of Oil and Fats saw an inflation rate of 18.7%. Even vegetable prices have been adding pressure with the heat wave coming in, March vegetable inflation rate soared to over 11%. The total Food Inflation thus escalating to 7.6%.

If one looks at the state-wise data West Bengal is facing the brunt of the price rise with a 8.8% inflation rate and not far behind in second place is Uttar Pradesh with 8.1%. Meanwhile, Punjab, Kerala and Tamil Nadu are all enjoying a sub 5% price rise index.