Food inflation north bound; at 16.44 per cent

For the week ended September 18, the food inflation rose to 16.44 per cent as supply constraints due to heavy rains fuelled the prices of pulses, onions and vegetables. In the previous week, this figure stood at 15.46 per cent.

Under the new data series introduced on September 4 with 2004-05 as base year have new components and weightings; under this series, this has been second straight rise in food inflation.

Food prices make up around 14% of the wholesale price index (WPI).

Commenting on the higher inflationary pressures, Finance Minister Pranab Mukherjee said it could come down to single-digit in December this year. “Heavy ranks and floods have recently led to the hike in food prices.”

Last Update Wednesday 6th October 2010     

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