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Expect relief from inflation: Pranab

business Updated: Nov 17, 2011 16:51 IST
PTI
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With food inflation easing by over a percentage point during the week ended on November 5, Finance Minister Pranab Mukherjee on Thursday said if the trend continues, "some relief" can be expected on the price front.

"At least on the food front, we may expect to have some relief if this trend continues," Mukherjee told reporters here.

His comments came after food inflation eased to 10.63% for the week ended November 5 from 11.81% in the previous week.

"It (food inflation) is still in double digits, but on percentage points, it has come down," Mukherjee said.

As per data released by the government today, onions grew cheaper by 22.89% year-on-year, while wheat prices were down by 3.63% during the week ended November 5.

However, all other items became more expensive on an annual basis during the week under review.

While vegetables became 27.26% costlier, pulses grew dearer by 14.44%, milk by 10.74% and eggs, meat and fish by 11.73%.

Inflation in the overall primary articles category stood at 10.39% during the week ended November 5, as against 11.43% in the previous week.

Inflation in non-food articles, including fibres, oilseeds and minerals, was recorded at 5.33% during the week under review, as against 6.41% in the week ended October 29.

Fuel and power inflation stood at 15.49% during the week ended November 5, as against 14.50% in the previous week.