India's food inflation rate declines to 13.75 %

New Delhi, October 28, 2010

India's food inflation rate declined to 13.75 per cent for the week ended October 16 from 15.53 per cent in the previous week, an official statement said here today quoting provisional data.

The statement showed that the inflation rate for fuel had risen slightly to 11.25 per cent from 11.14 per cent in the previous week.

High prices of food items have been a cause of worry for the Government since the worst monsoon in more than three decades last year and floods in some states adversely affected the Kharif crop.

According to the data released today, the prices of wheat were up 6.56 per cent from a year ago, cereals by 4.97 per cent, rice by 3.49 per cent, pulses by 4.16 per cent, milk by 21.65 per cent, fruits by 16.06 per cent and eggs, meat and fish by 28.12 per cent.

However, the prices of potatoes were down by 49.82 per cent from a year ago, onions by 6.93 per cent and vegetables by 0.77 per cent, the statement showed.

Overall, the annual rate of inflation for primary articles, which have a weight of 20.12 per cent in the WPI, with base year 2004-05, stood at 16.62 per cent for the week ended October 16 as compared to 18.05 per cent for the previous week.

The index for this major grop declined by 0.4 per cent to 181.0 from 181.8 for the previous week, the provisional data showed.

Within this group, the index for Food Articles declined by 0.7 per cent to 179.5 from 180.8 for the previous week due to lower prices of fruits & vegetables (4%) and bajra, jowar, fish-inland, masur and urad (1% each). However, the prices of poultry chicken, arhar and fish-marine (4% each) and barley (3%) moved up.

The index for Non-Food Articles rose by 0.3 per cent to 161.6 from 161.1 for the previous week due to higher prices of copra (7%), raw jute (5%), raw rubber (3%) and raw silk (1%). However, the prices of fodder (3%) and cotton seed and castor seed (1% each) declined.

In the case of Fuel & Power, which have a weight of 14.91 per cent, the index rose by 0.4 per cent to 148.3 rom 147.7 for the previous week due to higher prices of light diesel oil (6%), aviation turbine fuel (3%), naphtha and furnace oil (2% each) and petrol (1%). However, the prices of bitumen (2%) declined.

The annual rate of inflation for this category stood at 11.25 per cent for the week ended October 16 as compared to 11.14 per cent for the previous week, the statemet added.

NNN

Related Stories

No stories found.

Latest Stories

No stories found.

Trending Stories

No stories found.
NetIndian
www.netindian.in