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Food inflation falls to nine-week low

News18test sharma |

Updated: February 17, 2011, 1:02 PM IST
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Food inflation falls to nine-week low
PM has assured overall inflation would come down to 7 per cent by March-end.

New Delhi: India's annual food inflation dropped to 11.05 percent for the week ended February 5 -- a nine-week low -- as prices of essential items like pulses, and potatoes dropped, according to official data released on Thursday.

The food inflation had dropped nearly four percentage points to 13.07 per cent in the previous week.

The data should give some respite to the government which has been trying out various measures from monetary policy tightening to a slew of initiatives like selling essential food items by state-run agencies and a crackdown on hoarders.

The annual inflation based on wholesale prices was 8.23 per cent in January.

In an interaction with editors of TV news channels Wednesday, Prime Minister Manmohan Singh had assured the country that food inflation would come down and overall inflation be no more than 7 per cent by March-end.

The annual inflation for primary articles declined to 14.59 per cent during the week ended February 5, compared to 16.24 per cent in the previous week.

The fuel index, however, rose to 11.92 per cent as against 11.61 per cent in the week before.

The following are the yearly rise and fall in prices of some main commodities that form the sub-index for food articles:

Onions: 31.33 per cent

Vegetables: 23.99 per cent

Fruits: 12.21 per cent

Potatoes: (-)13.63 per cent

Milk: 11.66 per cent

Eggs, meat, fish: 15.14 per cent

Cereals: 1.53 per cent

Rice: 1.89 per cent

Wheat: (-)2.54 per cent

Pulses: (-)5.88 per cent

First Published: February 17, 2011, 1:02 PM IST
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