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Inflation surges to 14.44 per cent

Special Correspondent

NEW DELHI: Concerned at the rising food inflationary trend, Union Finance Minister Pranab Mukherjee on Thursday hinted at more steps to check the rising prices, even as food inflation surged to a 10-week high of 14.44 per cent.

The Cabinet Committee on Prices, headed by Prime Minister Manmohan Singh, met in the evening to review the situation and expressed concern at the spurt in the prices of eggs, fruits, vegetables, milk and other products of daily use.

Earlier, Mr. Mukherjee told journalists here that the high inflation rate was not due to statistical technicality, called a base effect, and was for real. “We are looking into it. So far as onion is concerned, we have taken care of it, but the fluctuation in [the prices] milk, fruit, vegetables and certain commodities has contributed to the inflation.” The extent of price rise could be gauged from the fact that food inflation rose to 14.44 per cent on a high increase of 21.29 per cent a year ago.

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