First nationwide retail inflation out, Jan prices up 7.65%

Food and beverages rise a moderate 4.11% y-o-y, energy and clothing in double-digits

Inflation based on the all India Consumer Price Index stood at 7.65% in January, as per the first nationwide retail inflation data released by the government today.

While 'food and beverages' reported a moderate rate of price rise of 4.11% year-on-year in January, the inflation numbers for fuel and light, and clothing, bedding and footwear segments were in double-digits.

Overall retail inflation in rural and urban areas stood at 7.38% and 8.25% in January, respectively.

"There was a long pending demand of ministries and various users for a comprehensive consumer inflation rate. To meet this demand, annual inflation rates based on this broad based CPI series for January 2012 are released today," Minister of State (Independent Charge) in the Ministry of Statistics and Programme Implementation Srikant Jena said.

The all India CPI will be in addition to the three retail price indices -- for agricultural labourers, rural labourers and industrial workers --  prepared by the Ministry of Labour.

The new nationwide CPI is being prepared by the Ministry of Statistics and Programme Implementation (MOSPI) and is eventually expected to replace the Wholesale Price Index (WPI) as the benchmark inflation.

Vegetables were cheaper by over 24% on a nationwide basis in January over the same month last year. However, other food and beverages reported a rise in prices. In rural and urban areas, inflation in the category stood at 4.18% and 3.98%, respectively.

Milk and milk products became 16.53% more expensive on an annual basis, while price of oils and fats went up by 13.47% in January. Condiments and spices became dearer by 11.83% and fruits by 10.62% in the month.