Food inflation eases further to 9.53 percent

August 5th, 2010 - 2:35 pm ICT by IANS  

Pranab Mukherjee New Delhi, Aug 5 (IANS) India’s annual food inflation came down to 9.53 percent for the second straight week ending July 24 from 9.67 percent a week earlier, official data released Thursday showed.
The fuel prices index also slipped marginally to 14.26 percent compared to 14.29 percent recorded in the previous week.

It was for the first time last week that food inflation had dropped to single digits at 9.67 percent. It had remained above the 16 percent level for most part of the year, before falling to below 13 percent in mid-June.

Data released by the commerce ministry showed the decline was mainly due to the fall in prices of vegetables, especially potatoes and onions.

The primary articles index rose at a slower pace at 14.36 percent, compared to the previous week’s increase of 14.5 percent percent.

Following are the rise and fall in prices of some of the main commodities that form the sub-index for food articles over the past 52 weeks:

Cereals: 6.87 percent

Rice: 7.28 percent

Wheat: 6.79 percent

Pulses: 20.49 percent

Vegetables: (-)17.32 percent

Fruits: 8.38 percent

Milk: 19.03 percent

Potatoes: (-)41.14 percent

Onions: (-)4.06 percent

Wholesale price inflation, the measure for overall increase in prices, was at 10.55 percent in June.

Finance Minister Pranab Mukherjee said in the Lok Sabha Wednesday that a good kharif (summer crop) output, would bring down prices of pulses and edible oils, which have remained stubbornly high.

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