Food inflation slips to 17.81 pc, fuel prices rise
Food inflation dropped to 17.81 per cent towards the end of February, but fuel inflation shot up due to a hike in excise and customs duty in the Budget.business Updated: Mar 11, 2010 15:04 IST
Food inflation dropped to 17.81 per cent towards the end of February, but fuel inflation shot up due to a hike in excise and customs duty in the Budget.
Food inflation declined by 0.06 percentage points during the week ended February 27 from 17.87 per cent in the previous week.
Though a range of essential items still continue to be expensive, the rate of price rise has been falling for some time now.
The declining trend, if sustained, would buttress the government's confidence that prices will start easing from April onwards.
On year-on-year pulses were dearer by 33.38 per cent, slightly lower than over 35 per cent in the previous week, while potatoes turned costlier by 22.46 per cent. Onion rose by just 2.98 per cent.
Overall vegetable prices shot up by 15.61 per cent, while milk prices was up 15.31 per cent and fruits 11.77 per cent.
The budgetary announcement of a hike in excise and customs duty on petrol led to an increase in its prices by six per cent on weekly basis.
On yearly basis, petrol prices rose 16.82 per cent.