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Food inflation jumps to 17.05% on costlier vegetables

New Delhi: Food inflation soared to 17.05 percent for the week ended January 22, rising for the second straight week, on the back of costlier vegetables, fruits and milk.

Food inflation rose by 1.48 percentage points from 15.57 percent in the previous week. The food inflation last year had stood at 20.56 percent.

On an annual basis, onion prices rose by 130.41 percent in the third week of January, although they have moderated considerably in the recent days.

Vegetables as a whole have became dearer by 77.05 percent on an annual basis as potato prices rose by 6.22 percent.

Fruits and milk became costlier by 15.47 percent and 11.41 percent on a year on year basis respectively, data released by the government showed.

In the non-food items, fuel inflation rose by 0.66 percent during the week after the oil marketing companies raised petrol prices by about Rs 2.50 a litre.

“Fuel and Power” category showed an increase of 11.61 percent year-on-year.

The uptick in latest food inflation figure is likely to put further pressure on the government grappling with expensive food commodities and a slowing industrial growth that dipped to the 18-month low of 2.7 per cent for November.

The overall inflation for December rose to 8.43 percent, from 7.48 percent in the previous month.

The RBI has projected the headline inflation to be at 7 percent by March end.

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