Food inflation falls to 7.33 percent

July 28th, 2011 - 2:41 pm ICT by IANS  

New Delhi, July 28 (IANS) India’s food inflation dropped to 7.33 percent for the week ended July 16, the lowest in over two years, as the rise in prices of fruits, eggs, meat and milk moderated and pulses became cheaper, according to official data released Thursday.

Food inflation has declined sharply for the second consecutive week, offering much needed relief to consumers and the policy makers who have been struggling for over
one-and-a-half years to control stubbornly high inflation.

Food inflation had declined to 7.58 percent for the week ended July 9 from 8.31 percent in the previous week.

The primary articles index also fell to sharply to 10.49 percent for the week under review as compared to 11.13 percent in the previous week, according to data released by the ministry of commerce and industry.

The prices of fruits rose at a slower 13.90 percent year-on-year compared to 15.84 percent in the previous week. Eggs, meat and fish prices also grew at a slower 6.36 percent as compared to 7.97 percent in the previous week.

The index for fuels and power, which has a 14.91 percent weight in the wholesale price index, also declined to 10.49 percent during the week under review from 11.13 percent in the previous week.

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

Onions: 22.66 percent

Vegetables: 7.59 percent

Fruits: 13.90 percent

Potatoes: 10.55 percent

Eggs, meat, fish: 6.36 percent

Cereals: 4.82 percent

Rice: 1.80 percent

Wheat: 1.84 percent

Pulses: (-) 8.01 percent

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