India's food inflation rate declines marginally to 17.81 %

India's food inflation rate declined marginally to 17.81 per cent in the year to February 27 from 17.87 per cent in the previous week, while fuel prices were up 11.38 per cent from a year ago, an official statement said here today, quoting provisional data.

The Government has been under attack from the Opposition for the past few months because of the rising food prices after the worst monsoon in more than three decades last year and floods in some States adversely affected the Kharif crop.

While the Government has taken several measures to check the spiralling prices, their impact is still to be fully felt by the common man.

According to the data released today, the prices of pulses were up by 33.58 per cen in the 12 months to February 27, potatoes by 22.46 per cent, milk by 15.31 per cent, cereals by 11.53 per cent, rice by 9.38 per cent, wheat by 14.34 per cent, fruits by 11.77 per cent and onions by 2.98 per cent.

Overall, the annual rate of inflation for Primary Articles stood at 15.08 per cent for the week ended February 27 as compared to 15 per cent for the previous week and 5.55 per cent during the corresponding week, ended February 28, 2009, of the previous year.

The Wholesale Price Index (WPI) for Primary Articles, which have a weight of 22.02 per cent in the WPI for All Commodities, rose by 0.4 per cent to 284.7 in the week ended February 27 from 283.7 for the previous week.

Within this group, the index for Food Articles rose by 0.2 per cent to 285.7 from 285.0 for the previous week due to higher prices of poultry chicken (7%) and barley, milk and fruits & vegetables (1% each). However, the prices of tea (3%), gram and urad (2% each) and arhar, condiments & spices, maize, fish-inland, fish-marine, masur, eggs and moong (1% each) declined.

The index for Non-Food Articles rose by 0.1 per cent to 256.5  from 256.2 for the previous week due to higher prices of raw rubber (2%) and raw cotton and fodder (1% each). However, the prices of gingelly seed and groundnut seed (1% each) declined.

The index for Minerals rose by 3.2 per cent to 610.4 from 591.6 for the previous week due to higher prices of barytes (5 %), iron ore, asbestos and steatite (4% each). However, the prices of magnesite (38%) and felspar (4%) declined.

In the case of Fuel, Power, Light & Lubricants, which have a weight of 14.23 per cent in the WPI, the index rose by 1.6 per cent to 361.2 from 355.4 for the previous week due to higher prices of high speed diesel oil (8%), petrol (6%). However, the prices of furnace oil, bitumen, light
diesel oil and naphtha (1% each) declined.

The annual rate of inflation stood at 11.38 per cent for the week ended February 27 as compared to 9.59 per cent for the previous week and (-) 4.90 per cent during the corresponding week of the previous year.

NNN