Food inflation slips sharply to 4.35 percent
December 15th, 2011 - 1:57 pm ICT by IANSNew Delhi, Dec 15 (IANS) India’s annual food inflation fell sharply to 4.35 percent for the week ended Dec 3, the lowest in nearly four years, as prices of onion, potato and other vegetables declined their fall, official data showed Thursday.
The food inflation has been on a downtrend for more than a month, falling from the double digits seen in October. Policymakers have said it should fall to below 3 percent within a month.
The decline in food inflation would give much needed relief to common people and policymakers who have been struggling for almost the last two years to control price rise.
It will also bolster the case for reversing the Reserve Bank of India’s tight monetary policy. The RBI has hiked key policy rates 13 times since the beginning of 2010 to control price rise.
However, headline inflation based on the wholesale price index was still at elevated levels in November, recorded at 9.11 percent.
The primary articles index, which has a 20.12 percent weightage in the wholesale price index, dropped to 5.48 percent for the week under review as compared to 6.92 percent in the previous week, according to data released by the commerce and industry ministry.
The fuel and power index slipped marginally to 15.24 percent.
The following are the yearly rise and fall in prices in the week under review of some main commodities that form the sub-index for food articles:
Onions: (-) 46.03 percent
Vegetables: (-) 12.28 percent
Fruits: 9.37 percent
Potatoes: (-) 33.28 percent
Eggs, meat, fish: 9.26 percent
Cereals: 1.85 percent
Rice: 2.04 percent
Wheat: (-) 4.43 percent
Pulses: 11.76 percent
- Food inflation dips to six-year low, relief for consumer (Second Lead) - Dec 29, 2011
- Food inflation dips to 0.42 percent; WPI may fall to 6 percent: Pranab (Lead) - Dec 29, 2011
- Food inflation falls to 39-month low of 6.6 percent - Dec 08, 2011
- Food inflation continues in the negative - Jan 12, 2012
- Food inflation dips to 0.42 percent - Dec 29, 2011
- Food inflation rises after three weeks of decline - Mar 24, 2011
- Food inflation drops for the second week - Jul 07, 2011
- Food inflation falls to 8 percent; to drop further: Pranab (Lead) - Dec 01, 2011
- Food inflation remains in negative - Jan 19, 2012
- Food inflation drops sharply to 1.81 percent - Dec 22, 2011
- Food prices fall; inflation will continue to moderate: Pranab (Lead) - Jan 12, 2012
- Food inflation falls to 8 percent - Dec 01, 2011
- Food inflation drops to 8.84 percent - Sep 22, 2011
- Food inflation declines to 9.03 percent - Aug 18, 2011
- Food inflation slips a tad as vegetable, food prices ease - Mar 31, 2011
Tags: articles index, bank of india, cereals, commodities, common people, double digits, food articles, headline inflation, industry ministry, New Delhi, onion, onions, potatoes, power index, rbi, reserve bank of india, rise and fall, tight monetary policy, weightage, wholesale price index