Food inflation at 7-week low of 7.61pc in week ended June 25

Posted By: Pti
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New Delhi, July 7: Food inflation in the country fell to a seven-week low of 7.61 per cent for the week ended June 25 on the back of cheaper vegetables, pulses and potatoes.

Food inflation, as measured by the Wholesale Price Index (WPI), stood at 7.78 per cent during the previous week. It was almost 20 per cent during the comparable period of June, 2010.

As per data released by the government today, pulses became over 9 per cent cheaper year-on-year during the period under review.

Prices of vegetables also came down by 8.74 per cent, while potatoes became 2.13 per cent cheaper on an annual basis. However, prices of other food items remained high during the week.

Fruits became 22.75 per cent more expensive, while onions became dearer by 21.24 per cent year-on-year. Eggs, meat and fish prices were up by 10.12 per cent and cereals by 4.26 per cent. Milk was 12.10 per cent costlier on an annual basis.

The latest numbers on the rate of price rise of food items are the lowest since the week ended May 7, when food inflation stood at 7.47 per cent.

Headline inflation in the country stood at 9.06 per cent in May. Finance Minister Pranab Mukherjee had yesterday cautioned against the "suppressed component" of inflation.

"There is a significant suppressed component of inflation as the increase in international crude oil prices has not been passed on completely despite increase in domestic administered oil prices effected in June, 2010, and June, 2011," he said.


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