India's food inflation jumps to 15.58 pc | business | Hindustan Times
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India's food inflation jumps to 15.58 pc

business Updated: Nov 26, 2009 15:41 IST
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India's annual food inflation based on the official wholesale price index jumped to 15.58 per cent for the week ended Nov 14, as prices of potatoes more than doubled, while onion became dearer by 27 per cent over the past 52 weeks.

The food inflation had stood at 14.55 per cent for the week before.

Weekly data released by the commerce and industry ministry further showed that pulses became costlier by 35.6 per cent, wheat by 12.53 per cent, rice by 11.89 per cent, milk by 11.36 per cent and fruits by 10.97 per cent over the past year.

At a broader level, the 52-week rise in the index for primary articles amounted to 11.04 per cent, while that for fuels was lower by 1.51 per cent. This was because petrol became cheaper by 11.86 per cent, diesel by 5.88 per cent and cooking gas by 7.42 per cent.

A closer look at the statistics reveals that the prices of potatoes have actually risen a whopping 131.64 per cent since April this year, while the overall prices of vegetables are up 62.42 per cent.

The Reserve Bank of India and the government have warned India's annual inflation rate based on wholesale price index for all commodities may rise to 6-6.5 per cent by next March, while the Prime Minister's Economic Advisory Council has pegged the rate at 6 per cent.