Food inflation declines sharply to 6.60%
Food inflation fell sharply to 6.60% for the week ended November 26, reflecting a decline in prices of essential items like vegetables, onions, potatoes and wheat.business Updated: Dec 08, 2011 13:43 IST
Food inflation fell sharply to 6.60% for the week ended November 26, reflecting a decline in prices of essential items like vegetables, onions, potatoes and wheat.
Food inflation, as measured by the Wholesale Price Index (WPI), stood at 8% in the previous week ended November 19. It was recorded at 8.93% in the corresponding period last year.
According to data released by the government today, onions became cheaper by 39.20% year-on-year during the week under review, while potato prices were down by 15.75%. Prices of wheat also fell by 4.70%.
Overall, vegetables became cheaper by 1.25%, a big relief after double-digit inflation in vegetable prices during the months of September and October.
However, other food products grew more expensive on an annual basis, led by protein-based items.
Pulses became 13% costlier during the week under review, while milk grew dearer by 11.02% and eggs, meat and fish by 10.04%.
Fruits also became 10.72% more expensive on an annual basis, while cereal prices were up by 1.68%.
Inflation in the overall primary articles category stood at 6.92% during the week ended November 26, as against 7.74% in the previous week. Primary articles have over 20% weight in the wholesale price index.
Inflation in the non-food segment, which includes fibres, oilseeds and minerals, was recorded at 1.37% during the week under review, as against 2.14% in the week ended November 19.