Food Inflation Rises Further, at 11.43 Percent


New Delhi, Oct 27 (IANS): A week after it breached double digits, India's food inflation continued with its upward climb and was recorded at 11.43 percent for the week ended Oct 15, official data showed Thursday.

The rise was due to a jump in prices of pulses, milk and vegetables. Food inflation had crossed double digits in the previous week at 10.6 percent.

The soaring food inflation comes even as the Reserve Bank of India (RBI) hiked key interest rates for the 13th straight time Tuesday. The central bank has, however, said that it expects inflation to fall from December.

"Inflation rate will begin falling in December 2011 and then continue down a steady path to 7 percent by March 2012. It is expected to moderate further in the first half of 2012-13," RBI Governor Duvvuri Subbarao had said while reading out the second quarter monetary policy review.

In the week under review, the primary articles index, which has a 20.12 percent weight in the wholesale price index, rose by 11.75 percent during the week under review as compared to 11.18 percent in the previous week, according to data made available by the commerce and industry ministry.

The index of fuel and power declined marginally to 14.7 percent.

During the week ended Oct 15, the index for non-food articles again showed a significant decline, growing at a slower rate of 7.67 percent as compared to 8.51 percent in the previous week.

Inflation has remained stubbornly high near double-digit since January 2010. The headline inflation based on the wholesale price index was recorded at 9.72 percent in September, according to the latest official data.

The following are the yearly rise and fall in prices under review of some main commodities that form the sub-index for food articles:

Onions: (-) 18.93 percent

Vegetables: 25 percent

Fruits: 11.96 percent

Potatoes: (-)0.45 percent

Eggs, meat, fish: 12.82 percent

Cereals: 4.62 percent

Rice: 4.26 percent

Wheat: (-) 0.95 percent

Pulses: 9.06 percent

  

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Comment on this article

  • alok, gwalior

    Thu, Oct 27 2011

    Festive season news. It might decrease after October’ 29 week that is in November’ 10 news. To decrease food inflation each one of 122 million Indians should grow 10 vegetable twines per person on roof open spaces in all seasons and creepers near north facing wall during winter from ground to roof during winter as it will double veg availability.

    I will solicit the opinion of experts to know if it is possible to do so keeping area mud free and insect free. Can rain water harvested in covered structure be used by drip irrigation method help in fulfilling water needs with mud and insect control? I will also solicit opinion of civil engineers for effect of moisture on building and how to prevent it. These plants will also keep our buildings cool in summers and rainy season.

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