Food inflation drops

PRESS TRUST OF INDIA

New Delhi, May 12: Food inflation dropped to 7.7 per cent for the week ended April 30, the lowest level in 18 months, due to a fall in the price of pulses and vegetables, especially potatoes.
 The rate of price rise in food items, as calculated on the basis of the wholesale price index (WPI), was 8.53 per cent in the previous week and 21.46 per cent in the comparable period of 2010.  The decline in food inflation is seen as a breather for the government, as the rate of price rise has stubbornly remained high despite its fiscal measures and the RBI's monetary tightening steps.
 During the week under review, prices of pulses declined by over 9 per cent year-on-year, while vegetables became cheaper by 3.64 per cent.  The data revealed that potato prices were down by 3.58 per cent on an annual basis.
 However, inflation in other food articles like cereals and fruits remained high. Cereals became dearer by 4.54 per cent, while fruits prices were up by over 35 per cent on an annual basis.

Lastupdate on : Thu, 12 May 2011 21:30:00 Makkah time
Lastupdate on : Thu, 12 May 2011 18:30:00 GMT
Lastupdate on : Fri, 13 May 2011 00:00:00 IST



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