India's food price inflation rate eases further to 11.05 per cent
17 Feb 2011
Food price inflation in the country, which reversed its rising trend last week, declined further to 11.05 per cent during the week ended 5 February 2011, raising prospects of ending the current fiscal at a single digit of around 5-6 per cent.
The annual rate of inflation based on the wholesale price index of 'food articles' stood at 11.05 per cent during the week ended 5 February 2011, against 13.05 per cent in the previous week.
Food price inflation in the country was 22.27 per cent during the comparable week of the previous year.
The decline in food prices during the week has been due to lower prices of fruits and vegetables (down 8 per cent), moong (down 2 per cent) and masur, rice, fish-marine and maize (down 1 per cent each), an official release said.
Food articles have a weight of 14.34 in the wholesale price index (WPI) of commodities while primary articles have a weight of 20.12, non-food articles a weight of 4.26 and fuel and power group a weight of 14.91.
Build-up of inflation for the `food articles' group so far during the current financial year (beginning 1 April 2010) was 11.25 per cent against 21.37 per cent in the similar period of the previous year.
The index for the 'food articles' group declined 2.1 per cent to 182.9 (provisional) from 186.9 (provisional) in the previous week due to lower prices of fruits and vegetables (down 8 per cent), moong (down 2 per cent) and masur, rice, fish-marine and maize (down 1 per cent each). However, the prices of jowar (up 6 per cent), ragi, condiments and spices and mutton (up 2 per cent each) and bajra, urad, gram and wheat (up 1 per cent each) moved up.
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