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Consumer Price Inflation Rises To 7.65% in January, 2012

Due to the higher prices of food and crude oil, the consumer price inflation was 7.65% in the month of January, 2012 which is comparatively high to the wholeale price inflation of the same month. This is the first time that Central Statistics Office (CSO) has come up with the details of the whole Indian economy, by keeping 2010 as the base year.

Consumer Price Inflation

The new Central Price Index (CPI) series covers the price movements in services that account for 55% of GDP, giving a better idea to the policy makers to maintain the price pressure at the consumer level. According to the CSO data released by Srikant Jena, Minister of State (Independent Charge) for statistics on Tuesday, the consumer price inflation rates for rural and urban areas are 7.38% and 8.25% respectively.

Inflation which was based on WPI was 6.55% in January 2012, whereas, the food and beverages section recorded 4.11% inflation, the footwear and clothing section was on 14.25% and fuel and light observed 13.13% inflation. Sugar prices were up by 1.84%. Oils and fats also saw the double digit inflation rate by 13.47%.

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