Continuing on its downward trajectory, food inflation in the country slipped further to 7.47 per cent for the week ended May 7. It was 7.70 per cent in the previous week. This follows cheaper pulses, vegetables and wheat.This is the lowest rate of price rise in food items in the last 18 months, when separate data for food inflation first started coming in. It is also the third consecutive week in which food inflation has fallen.Food inflation, as measured by the Wholesale Price Index or WPI, was over 22 per cent in the corresponding week of last year.During the week under review, pulses became cheaper by 8.87 per cent year-on-year, while prices of vegetables were down by 3.61 per cent.Prices of wheat also fell by 0.06 per cent. The government's third estimate released recently said that production of wheat would surpass all previous records during the 2010-11 (July-June) crop year.However, prices of other food items continued to remain expensive. Fruits were dearer by over 30 per cent on an annual basis, while eggs, meat and fish were up by 5.67 per cent. Milk prices were also up 4.56 per cent.Overall, primary articles reported 10.94 per cent inflation. Meanwhile, non-food primary articles were up 23.82 per cent during the week under review.
News On AIR | May 20, 2011 8:21 AM
Food Inflation drops further to 7.47 pc