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Food inflation turns down to 9.03 per cent
The food inflation declines to 9.03 per cent for the week ended 6th August from 9.9 per cent.
The food inflation declined as pulses prices moderated while the price of vegetables and fruits rose in comparison to 2010 during the week. The measures taken to remove supply constraints in some of the agricultural commodities and good monsoon will help to have further moderating influence on the prices of food and other essential commodities. As per data released by ministry of commerce and industry, pulses became cheaper by 5.63 per cent during the reporting week in comparison to same period in 2010. While other food items continue to rise which may push up food inflation in future.
Onions were 37.62 per cent more expensive on an annual basis during the week ended August 6, while prices of fruit went up by 26.46 per cent. The kharif sowing of onion is running behind the schedule in the key growing states of Maharashtra and Gujarat, the retail prices of onion across the country has looked northward during July 2011. The prices are expected to look northward during coming months as kharif crop arrival will be delayed.
During last two months, the wholesale price of onion has moved from Rs 800 per quintal to Rs 1100 per quintal at present. Eggs, meat and fish became dearer by 9.93 per cent and the price of milk was up 9.76 per cent on an annual basis. Cereals and vegetables were up by 6.23 per cent and 2.59 per cent, respectively, while potato prices climbed by 7.22 per cent.
Source: Financial Express