Home / Business / Food inflation drops to 8.84 %

Food inflation drops to 8.84 %

New Delhi: India’s food inflation dropped to 8.84 percent for the week ended Sep 10 as compared to 9.47 percent in the previous week as rise in the prices of onions, fruits and vegetables eased, official data showed Thursday.

Rise in the price of vegetables declined to 12.13 percent year-on-year during the week under review as compared to 17.47 percent in the previous week, while the rise in price of onions declined to 28.92 percent from 42.98 percent.

The primary articles index, which has a 20.12 percent weight in the wholesale price index, rose by 12.17 in the week under review as compared to 13.04 percent in the previous week, according to data released by the commerce and industry ministry.

The index for non-food articles rose 17.42 percent during the week ended Sep 10 as compared to 18.49 percent in the previous week. However, the rise in the index of fuel and power accelerated to 13.96 percent during the week under review as compared to 13.01 percent in the previous week.

Decline in food price inflation would give some relief but it is not enough to end the trouble of policymakers, who have been struggling for almost the last two years to control inflationary pressure.

The Reserve Bank of India (RBI) in its latest monetary policy review last week hiked key rates by 25 basis points in the 12th such exercise since January 2010 to tame stubborn inflation. Despite the aggressive monetary tightening by the central bank, inflation has remained stubbornly high. Latest data showed annual inflation rate for August, based on the wholesale price index, inching closer towards double digits at 9.78 percent.

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: 28.92 percent
Vegetables: 12.13 percent
Fruits: 17.67.64 percent
Potatoes: 13.78 percent
Eggs, meat, fish: 9.28 percent
Cereals: 4.13 percent
Rice: 4.02 percent
Wheat: (-) 2.72 percent
Pulses: 1.49 percent

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>

Pinterest