Food Inflation rises to 17.97 pc

Written by: Super Admin
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New Delhi, Feb 18: As food prices rage on a northbound journey, food inflation inched up to 17.97 per cent for the week ended Feb 6.

The food inflation numbers rose on the hike in potato and onion prices. Potato prices saw a 57.67 per cent rise from 2008 level, while onions got 29.92 per cent more costlier.

As the rates of moong and poultry chicken soared, the price index for food articles, on weekly basis, went up 0.1 per cent.

The data released on Thursday, Feb 18 showed a 9.89 pc rise in the fuel price index.

While the current food inflation numbers came in higher than an annual rise of 17.94 per cent in the previous week, the annual wholesale inflation went up to 8.56 per cent in Jan 2010, against 7.31 per cent in Dec 2009.

The figures shot past the Reserve Bank of India's forecast of 8.5 per cent.

Speaking on the surge in Inflation, Finance Minister, Pranab Mukherjee on Wednesday, Feb 18 said, "That is (rising inflation) a matter of concern, no doubt...I am afraid...8.5 per cent wholesale price index rise is disturbing...(but) I do hope that over a period of few months, it will be possible to have the moderate rate of inflation."

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