Food price inflation falls further to 16.04 per cent
06 May 2010
The annual rate of inflation based on the wholesale price index of food articles declined further to 16.04 per cent during the week ended 24 April 2010 from 16.61 per cent during the previous week.
The decline in inflation was due mainly to lower prices of fish (inland), fruits and vegetables, barley and wheat.
Food price inflation stood at 8.95 per cent in the comparable week a year ago (week ended 25 April 2009).
The build-up of food price inflation so far during the financial year (beginning 1 April 2010) was lower at 1.74 per cent during the week under review against 1.88 per cent in the previous week and 3.20 per cent during the comparable week of the previous year.
The index for the 'food articles' group declined 0.1 per cent to 292.3 (provisional) from 292.7 (provisional) in the previous week due to lower prices of fish-inland, fruits and vegetables, barley and wheat (-1 per cent each). However, the prices of tea (13 per cent) and maize, gram and eggs (1 per cent each) moved up.
The inflation rate based on the wholesale price index of non-food articles was higher at 11.04 during the week ended 24 April 2010 against 10.61 per cent during the previous week and 2.07 per cent in the comparable week of the previous year.
.jpg "India, Nigeria agree on local currency settlement system")
