Food inflation shoots up to 11.47% on costlier cereals, fruits

NEW DELHI:   Food inflation shot up to 11.47 per cent for the week ended August 28, the second consecutive week of upward thrust, even as Prime Minister Manmohan Singh expressed hope yesterday that prices will moderate in the coming months. The rise in inflation was mainly on account of spurt in prices of cereals, fruits and milk.

Food inflation was 10.86 per cent for the week of August 21. Experts said that food inflation will stabilise by next month when this year's fresh kharif crops starts arriving in the market.

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Inflation to come down in coming months: PM

NEW DELHI:   Prime Minister Manmohan Singh today expressed hope that inflation, which is close to the double digit mark, will come down in the coming months.

"Let us hope, it (inflation) will come down in the coming months. I am not an astrologer," he told reporters here.

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Food inflation at 10.86 pc in third week of August

NEW DELHI:   After declining for two consecutive weeks, food inflation inched up marginally to 10.86 per cent for the week ended August 31, as prices of cereals, fruits and milk rose. Food inflation was 10.05 per cent during the previous week, while it was 14.86 percent a year ago.

The rise in food inflation has been driven by higher prices of cereals, milk and fruits. Prices of vegetables, especially onion and potato, however, has declined.

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Exports grow 13.2 pc in July; clock lowest growth in FY11

NEW DELHI:   Exports in July grew by 13.2 per cent, the lowest expansion so far this fiscal, to USD 16.24 billion as major markets like the US and Europe are facing fragile economic recovery.

During the first three months of 2010-11, the shipments grew by about 30 per cent.

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Economy will grow not less than 8.5 pc in FY'11: Mukherjee

NEW DELHI:   Buoyed by the encouraging first quarter GDP numbers, Finance Minister Pranab Mukherjee today expressed confidence that the economy will grow by not less than 8.50-8.75 per cent this fiscal.

"The numbers are quite encouraging more encouraging point is 12.4 per cent growth which has been registered in the manufacturing sector. I think the highest growth rate in the last 11 quarters. I do hope it will be possible to maintain this level of growth," Mukherjee told reporters here.

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