India’s food inflation drops after fresh crop arrival

Posted by on May 6th, 2010 and filed under Business/Economy. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

New Delhi, May 6 (IANS) India’s annual food inflation dropped to 16.04 percent for the week ended April 24 from 16.61 percent a week ago due to fresh arrival of the winter crop.

Data on the wholesale price index (WPI) released by the commerce and industry ministry showed the index for food articles fell by 0.1 percent during the week under review.

The index for non-food articles and fuel remained unchanged.

Taking into account the year as a whole, the prices of pulses, milk and cereals rose during the week and that of potatoes, vegetables and onions declined.

In the non-food articles category, fuel, fibre and oil seeds were ruling higher than the levels seen last year.

Following are the rise and fall in prices of some essential food items over the 52-week period:

- Pulses: 30.58 percent

- Milk: 21.12 percent

- Fruits: 14.49 percent

- Rice: 8.28 percent

- Cereals: 7.67 percent

- Potato: (-)32.14 percent

- Onions : (-) 25.8 percent

- Vegetables: (-) 5.69 percent

The United Nations Economic and Social Commission for Asia and the Pacific in a survey has pegged India’s annual inflation for 2010-11 to be around 7.5 percent.

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