Pulses, milk push food inflation to 16.55 per cent | business | Hindustan Times
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Pulses, milk push food inflation to 16.55 per cent

business Updated: Jun 03, 2010 16:28 IST

PTI
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Driven by higher prices of pulses, milk and fruits, food inflation rose to 16.55 per cent for the week ended May 22.

Inflation increased by 0.32 percentage point from 16.23 per cent in the previous week, food inflation data released on Thursday showed.

Potatoes and onions became cheaper by 34.09 per cent and 11.55 per cent respectively.

Prices of pulses, on the other hand, shot up by 30.84 per cent, that of milk by 21.12 per cent, fruits 13.7 per cent and vegetables 1.34 per cent.

Among other food items, rice and wheat turned costlier by 7.30 per cent and 3.07 per cent respectively.

Although food prices have been firming up, experts feel prices will come down in the next 2-3 months.

"Seasonal pressure on certain food products is expected to ease in early July... from August and September we will see a continuous downtrend in food inflation," said HDFC chief economist Abheek Barua.

As regards spiralling prices of pulses, Barua said, "Globally there has been a shortage of pulses and the impact is also evident in India."

The overall inflation for April, that includes food and manufactured goods, stood at 9.59 per cent, moderating slightly from 9.90 per cent in March.