August 18, 2011 1:18 PM

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Food inflation falls to 9.03 per cent

Food inflation fell to 9.03 per cent for the week ended August 6. Food inflation, as measured by the Wholesale Price Index (WPI), stood at 9.90 per cent in the previous week. The rate of price rise of food items was 14.51 per cent in the first week of August, 2010. As per data released by government today, price of pulses became cheaper by 5.63 per cent year-on-year during the week under review. However, all other items continued to remain expensive. Onions were 37.62 per cent more expensive on an annual basis during the week ended August 6, while prices of fruits went up by 26.46 per cent. Eggs, meat and fish became dearer by 9.93 per cent and the price of milk was up 9.76 per cent year-on-year. Cereals and vegetables were up by 6.23 per cent and 2.59 per cent, respectively, while potato prices climbed by 7.22 per cent. In the previous week ended July 30, the rate of price rise of items like vegetables, potatoes, milk and egg, meat and fish was more on an annual basis in comparison to the week under review. Meanwhile, Finance Minister Pranab Mukherjee on Thursday expressed hope that the inflation will moderate in coming months and will come down to 5.5 percent. Talking to reporters outside Parliament Mr. Mukherjee said that with the good monsoon the food inflation will also come down.

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