Food inflation has once again surged and crossed the double-digit mark. It recorded a rise to 10.60% in the week ended on October 8, which is the sharpest increase in six months. Also, fruit prices rose by 11.72 per cent, and milk rose to 10.35 per cent and eggs, meat and fish became 10.33 per cent dearer. Meanwhile, the inflation in the fuels and power group stood at 14.69 per cent.
Since March 2010, the Reserve Bank of India (RBI) has surged the policy rates 13 times with the aim of controlling inflation. Even Union Finance Minister Pranab Mukherjee has expressed concern over surge in inflation. However the government is refusing to accept that all these months the measures taken by both the government and the RBI have failed to tame inflation.