Ummid Assistant

Jamia Millia launches courses on China, Afghanistan

IGNOU launches value education programme for teachers

Welcome Guest! You are here: Home Business & Economy

Food inflation falls to 8 percent; to drop further: Pranab

Thursday December 01, 2011 07:21:03 PM, IANS

New Delhi: India's food inflation fell sharply to 8 percent for the week ended Nov 19 as compared to 9.01 percent in the previous week - as onions, potatoes and wheat became cheaper and the rise in the prices of other items moderated on the back of a good monsoon, official data showed Thursday.

Finance Minister Pranab Mukherjee said food inflation would decline to 6-7 percent by the end of the current financial year.

"If this trend continues, perhaps we may have year-end inflation at 6-7 percent," Mukherjee told reporters here while reacting on the weekly figures.

Food inflation has dropped sharply in the last three weeks. It had come down in single digit for the week ended Nov 12 from 10.63 percent in the previous week.

"After the month of August, for the first time it (food inflation) has come down to 8 percent," Mukherjee said.

The finance minister said non-food inflation was also steadily declining. "For the week ended Oct 29, it was 6 percent and now (its has) declined to 2.14 percent," he said.

Onion became cheaper by 40.65 percent during the week under review, while price of potatoes declined by 10.98 percent, wheat became cheaper by 4.71 percent year-on-year, according to data released by the commerce and industry ministry.

The rise in prices of other vegetables also moderated at 5.13 percent for the week ended Nov 19. Vegetable prices had risen by 17.66 percent year-on-year in the previous week.

The primary articles index, which has a 20.12 percent weightage in the wholesale price index, also dropped sharply to 7.74 percent for the week under review as compared to 9.08 percent in the previous week and 10.39 percent for the week ended Nov 5.

However, the fuel and power index rose marginally to 15.53 percent as compared to 15.49 percent in the previous week.

The headline inflation based on the wholesale price index was recorded at 9.73 percent in October, according to the latest official data.

The Reserve Bank of India (RBI) has hiked key policy rates 13 times since the beginning of 2010 to control the price rise. The recent decline in inflationary pressure may give some comfort to the economic policymakers who have been struggling to control the price rise for the last two years, without much success.

The following are the yearly rise and fall in prices in the week under review of some main commodities that form the sub-index for food articles:

Onions: (-) 40.65 percent

Vegetables: 5.13 percent

Fruits: 7.98 percent

Potatoes: (-) 10.98 percent

Eggs, meat, fish: 13.55 percent

Cereals: 2.86 percent

Rice: 1.97 percent

Wheat: (-) 4.71 percent

Pulses: 13.80 percent








Bookmark and Share

Home | Top of the Page


Note: By posting your comments here you agree to the terms and conditions of

Comments powered by DISQUS







Top Stories

Shopkeepers protest but shoppers don't mind foreign retailers

Protests over the entry of global retail chains such as Wal-Mart and Carrefour saw tens of thousands of shop-owners downing their  

Cong, opposition fight over FDI continues; traders call nationwide protests

PM firm on FDI decision, says it is pro-people


  Most Read

Superman of Malegaon to hit Berlin screens December 04

The Superman of Malegaon, the documentary film which introduced Mollywood - the local film industry to the International audience as never before, has been included for  

Kashmir lawyers boycott courts, seek AFSPA revocation

Lawyers in Kashmir Thursday boycotted courts for the day protesting the proposed amendment to the Ranbir Penal Code, special to Jammu and Kashmir, to provide immunity to the army during its 

Army is not master of Kashmir: Farooq Abdullah


  News Pick

Parliament stalled for eighth successive day

It was the familiar sequence of protests leading to the adjournment of both houses of parliament for the eighth successive day Thursday with opposition MPs 

Apple a day: Lok Sabha MPs to get iPads

Parliament may be in a state of paralysis these days, but it has not deterred the authorities from taking a digital leap of faith. Aiming to make its office paperless and the members tech-savvy, the Lok Sabha secretariat has 

Andhra assembly session kicks off on stormy note

The winter session of the Andhra Pradesh assembly began on a stormy note Thursday with the opposition Telugu Desam Party (TDP) stalling the proceedings, forcing the speaker to adjourn the house. It was 


Picture of the Day

The Prime Minister, Dr. Manmohan Singh and the Emeritus Senior Minister, Mr. Goh Chok Tong, unveiled the bust and the Marker of Pt. Jawaharlal Nehru, at Asian Civilizations Museum, in Singapore on November 20, 2011.

(Photo: M. Asokan )



RSS  |  Contact us


| Quick links



Subscribe to

Ummid Assistant






About us




Government Schemes










Contact us





    Disclaimer | Terms of Use | Advertise with us | Link Exchange is part of the Awaz Multimedia & Publications providing World News, News Analysis and Feature Articles on Education, Health. Politics, Technology, Sports, Entertainment, Industry etc. The articles or the views displayed on this website are for public information and in no way describe the editorial views. The users are entitled to use this site subject to the terms and conditions mentioned.

2010 Awaz Multimedia & Publications. All rights reserved.