Food inflation rises to 17.97 pc | business | Hindustan Times
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Food inflation rises to 17.97 pc

business Updated: Feb 18, 2010 13:15 IST

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Food inflation rose marginally to 17.97 per cent for the week ended February 6 on account of rising prices of potatoes and onions.

The wholesale price-based food inflation rose for the fourth consecutive week. In the previous week it stood at
17.94 per cent.

Potato prices were up 57.67 per cent from last year's level, while onions were dearer by 29.92 per cent.

The inflation for primary articles, which include food and non-food items in raw form, increased to 16.23 per cent
during the week from 15.75 per cent a week earlier.

The price index for food articles, on weekly basis, moved up 0.1 per cent on account of higher rates of moong and
poultry chicken (3 per cent each), while rates of fish marine rose by 2 per cent and barley and wheat became dearer by one
per cent each.

Yesterday, Finance Minister Pranab Mukherjee had said rising inflation was a matter of concern but exuded confidence
it would ease in the next few months.

"That is (rising inflation) a matter of concern, no doubt...I am afraid...8.5 per cent wholesale price index rise
is disturbing...(but) I do hope that over a period of few months, it will be possible to have the moderate rate of
inflation," Mukherjee had said.

Wholesale price-based overall inflation rose to 8.56 per cent in January, shooting past the RBI's forecast of 8.5 per
cent for this fiscal end.