By IANS,
New Delhi : India’s annual food inflation fell to 16.30 percent for the week ended March 6 from 17.81 percent a week before largely due to a drop in prices of lentils, cereals and vegetables.
According to the data on wholesale price index released by the industry ministry Thursday, the indices for both food articles and non-food articles fell 1.09 percent and 0.6 percent respectively during the week.
Yet, taking into account the year as a whole, the prices of most essential items were ruling sharply higher than the levels seen last year, though onions became cheaper by 9.87 percent.
Following are the increases in prices of some essential food items over the 52-week period:
– Pulses: 29.77 percent
– Potatoes: 9.84 percent
– Vegetables: 2.37 percent
– Milk: 15.31 percent
– Wheat: 15.69 percent
– Cereals: 11.40 percent
– Onions: (-)9.87 percent
– Fruit: 11.92 percent
– Rice: 8.53 percent
The fresh data on wholesale price index came just two days after Finance Minister Pranab Mukherjee warned that the overall inflation may soon touch the double-digit mark.
“I will not be surprised if we have double digit inflation by March. We are primarily concerned with food inflation. It has to be tackled,” Mukherjee told the Rajya Sabha March 16 during the discussion on the budget for 2010-11.
Driven by increasing food prices, India’s annual rate of inflation, based on the wholesale price index, rose to 9.89 percent in February from 8.56 percent the previous month.
Agriculture Minister Sharad Pawar Thursday said the prices of essential commodities, including sugar, were coming down.
“The situation on rising prices of sugar, potato and other essential commodities has improved. The situation is definitely changing and it is a good sign,” Pawar told reporters here.
Planning Commission Deputy Chairman Montek Singh Ahluwalia had on March 6 said that food inflation would fall in the next two months.