Inflation rose to 0.57 per cent for the week ended April 18 as prices of essential food items along with some fuels and manufactured products went up, justifying the cautious approach of the RBI in easing money supply.
Inflation, as measured by the movement in the wholesale prices, was 0.26 for the week ended April 11 and 8.23 per cent in the corresponding period a year ago.
While the price of rice bran oil was up by 11 per cent, khandsari and cotton seed oil prices rose by eight per cent each.
Tea became costlier by seven per cent, urad prices went up by five per cent and condiments and spices by four per cent.Inflation data are significant from the point of view of the fact that the third phase of the Lok Sabha elections is taking place on Thursday.
Some economists said costly food items have come in the way of inflation turing negative, and the high base effect is sure to drive inflation below zero shortly.
"I expect inflation to get into the negative zone and remain (there) for some months," said D K Joshi, principal economist at ratings agency Crisil.
The rise in inflation over the previous week is just a blip and inflation is expected to go down, he said, adding that he didn't see any further upside in food prices.
However, Suresh Tendulkar is not of the same view. "I don't see inflation going below zero," he said.
As per the data year-on-year, the prices of cereals increased 10.29 per cent, pulses 12.62 per cent, vegetables 9.91 per cent, fruit 8.03 per cent, milk 5.46 per cent and condiments and spices 9.13 per cent.
Among manufactured food products, the prices of processed fish shot up 42.75 per cent, sugar 22.49 per cent and common salt 12.35 per cent.
The prices of oil cakes rose 25.66 per cent, tea and coffee 14.44 per cent and malt liquor 25.40 per cent.
Meanwhile, the prices of aviation turbine fuel went up 8 per cent, furnace oil 2 per cent and metallic minerals as much as 25 per cent over the previous week.
