Food inflation at 9.52per cent; back in single digits

As per the data released by Government on March 10, the food inflation for the week ended February 26 fell to 9.52 per cent due to fall in prices of Potatoes, pulses and wheat.

A single digit figure has come after a gap of nearly three months, even in week prior to this, food inflation stood at 10.39 per cent. It was seen last in single digit for the week ended December 4, 2010, when it was 9.46 per cent.

Although price of potatoes fell, vegetables continued to see rise in price during the week under review. However, prices of wheat declined by 1.07 per cent on an annual basis, while pulses rates fell by 3.91 per cent.

In recent past, the high food prices have been seen as one of the major factor behind zooming overall inflation. The government has maintained that inflation will fall to 7 per cent by end FY 2010-11.

According to economic analysts, the dip in food inflation is unlikely to douse overall inflationary expectations, mainly owing to the rising trend in global commodity prices.

 

Last Update Thursday 10th March 2011     

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