Food inflation dips marginally to 9.47 percent

September 15th, 2011 - 2:51 pm ICT by IANS  

New Delhi, Sep 15 (IANS) India’s food inflation dipped marginally to 9.47 percent for the week ended Sep 3 year-on-year but still hovered high enough to trouble policymakers, according to official data released Thursday.

In the week under review, prices of essential food items were still reigning on the higher side. Onions were 42.98 percent costlier, vegetable prices rose 17.47 percent, while fruits became dearer by 22.64 percent.

Food inflation had crept to 11.3 percent for the week ended Aug 20.

The primary articles index, which has a 20.12 percent weight in the wholesale price index, rose by 13.04 percent in the week under review, according to data released by the commerce and industry ministry.

The index for non-food articles rose 18.49 percent for the week ended Aug 20, while the indices for fuel and power increased 13.01 percent.

Latest data showed headline inflation climbing in August to 9.78 percent, sparking speculations that the Reserve Bank of India (RBI) will go in for another rate hike even though policymakers are concerned about slackening industrial output.

It has already done so 11 times since January 2010.

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

Onions: 42.98 percent

Vegetables: 17.47 percent

Fruits: 22.64 percent

Potatoes: 21.16 percent

Eggs, meat, fish: 5.97 percent

Cereals: 5.02 percent

Rice: 4.39 percent

Wheat: (-) 2.03 percent

Pulses: (-) 2.45 percent

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