Food inflation dips marginally to 9.55 percent

September 8th, 2011 - 1:56 pm ICT by IANS  

New Delhi, Sep 8 (IANS) India’s food inflation dipped marginally to 9.55 percent for the week ended Aug 27 year-on-year, coming down from the double-digit levels registered the previous week, 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 percent costlier, vegetable prices rose 22.42 percent, while fruits became dearer by 16.57 percent.

Food inflation had crept to 10.05 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 13.34 percent in the week under review as compared to 12.93 percent in the previous week, according to data released by the commerce and industry ministry.

The index for non-food articles rose 19.88 percent for the week ended Aug 20, while the indices for fuel and power increased 12.55 percent.

As high inflation continues to plague the country, the Reserve Bank of India (RBI) is likely to hike interest rates once again. It has already done so 11 times since January 2010.

The headline inflation is still close to double digits, registered at 9.22 percent in August.

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: 42.03 percent

Vegetables: 22.42 percent

Fruits: 16.57 percent

Potatoes: 13.38 percent

Eggs, meat, fish: 7.26 percent

Cereals: 5.45 percent

Rice: 4.65 percent

Wheat: (-) 1.04 percent

Pulses: (-) 1.56 percent

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