India's food inflation rate declines to 17.22 %

New Delhi, April 15, 2010

India's food inflation rate declined slightly to 17.22 per cent in the year to April 3 from 17.70 per cent in the previous week, while fuel prices were up 12.43 per cent from a year ago, an official statement said here today, quoting provisional data.

Rising prices of food products have been a source of worry for the Government after the worst monsoon in more than three decades last year and floods in some states adversely affected the Kharif crop.

The Government has taken various steps to bring the prices under control, but their impact is yet to be fully felt by the common man.

According to the figures released today, the prices were pulses were upby 32.55 per cent during the week from a year ago, milk by 22.21 per cent, cereals by 10.21 per cent, rice by 8.45 per cent, wheat by 12.42 per cent and fruits by 11.96 per cent.

But the prices of potatoes had come down by 23.71 per cent and onions by 2.5 per cent.

Overall, the annual inflation rate for Primary articles, which have a weight of 22.02 per cent in the wholesale price index (WPI), stood at 13.88 per cent for the week ended April 3 as compared to 14.50 per cent for the previous week and 6.71 per cet during the corresponding week, ended April 4, 2009, of the previous year.

The WPI for the week for Primary Articles rose by 1 per cent to 288 from 285.1 for the previous week, the provisional data showed.

Within this group, the index for Food Articles rose by 1.4 per cent to 291.4 from 287.3 for the previous week due to higher prices of fruits & vegetables (9%) and fish-marine, maize, urad and condiments & spices (1% each). However, the prices of bajra (2%) and wheat, masur and arhar (1% each) declined.

The index for Non-Food Articles rose by 0.1 per cent to 254.1 from 253.8 for the previous week due to higher prices of raw rubber (2%) and gingelly seed, castor seed and linseed (1% each). However, the prices of niger seed (3%) and copra and sunflower (2% each) 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 0.2 per cent to 362.7 from 361.8 for the previous week due to higher prices of naphtha (3%) and aviation turbine fuel (2%).

The annual rate of inflation for this category stood at 12.43 per cent as compared to 12.71 per cent for the previous week and -5.87 per cent during the corresponding week of the previous year.

NNN

Related Stories

Firework

NetIndian
www.netindian.in