Food inflation snapped the five week rising trend and softened to 16.91 per cent for the week ended January 1, 2011.Food inflation fell by 1.41 percentage points from 18.32 per cent recorded in the previous reporting week. Prices of pulses declined by 14.84 per cent, wheat by 4.87 per cent, potatoes by 1.67 per cent and cereals by 0.12 per cent on an annual basis. Official data however, showed that vegetable prices soared by 70.73 per cent on anannual basis in the wholesale market. Onion prices also went up by 70.70 per cent on a year on year basis. Among the individual items in the food inflation index, egg, meat and fish became costly by 16.70 per cent, milk by 13.20 per cent and fruits by 17.71 per cent annually.Meanwhile, in the non-food category, the prices of fibers and minerals have climbed up by 36.71 per cent and 16.70 per cent, respectively.Food inflation has remained high for the entire month of December. The rising food prices will get reflected in the monthly inflation data for December, scheduled to be announced tomorrow.The headline inflation in November had come down to 7.48 per cent from 8.58 per cent a month ago.
News On AIR | January 13, 2011 12:28 PM
Food inflation has dropped to 16.91 per cent