India's wholesale inflation shoots up on steep food prices

New Delhi: India's annual rate of inflation based on wholesale prices shot up to 3.55 per cent for July from 1.62 per cent in the previous month, due to an 11.82 per cent jump in prices of food articles, official data showed on Tuesday. The prices of potatoes continued to pinch with an annual rise of 58.78 per cent, pulses were dearer by 35.76 per cent, while fruits were 17.30 per cent costlier over the same month of the previous year, as per Wholesale Price Index data of the Commerce Ministry. Data released last week showed that the country's annual retail inflation shot up to a 23-month high of 6.07 per cent and beyond the official tolerance level of 6 per cent for July, again due to higher prices for food articles.