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India's food price index up to 16.49 per cent
20 May 2010: India's food inflation rate rose slightly to 16.49 per cent in the year to May 8 from 16.44 per cent in the previous week, while fuel prices remained at 12.33 per cent up from a year ago.
The continued high prices of food items have been a cause of worry for the Government since the worst monsoon in more than three decades last year and floods in some states adversely affected the Kharif crop.
According to the figures released, the prices of pulses were up by 33.65 per cent during the week from a year ago, milk by 21.12 per cent, fruits by 17 per cent, cereals by 16.37 per cent, rice by 7.72 per cent, wheat by 4.74 per cent and vegetables by 0.63 per cent.
However, the prices of potatoes were down by 30.36 per cent and onions by 16.01 per cent.
Overall, the annual rate of inflation for Primary Articles, which have a weight of 22.02 per cent in the Wholesale Price Index (WPI), stood at 16.19 per cent for the week ended May 8 as compared to 16.76 per cent for the previous week and 6.67 per cent during the corresponding week, ended May 9, 2009, of the previous year.
The WPI in respect of this major group declined by 0.1 per cent to 299.2 from 299.5 for the previous week, the provisional figures showed.
Within this group, the index for Food Articles declined marginally to 293.9 from 294.0 for the previous week due to lower prices of wheat (2%) and fish-inland, maize and gram (1 per cent each). However, the prices of urad and moong (2 per cent each) and fruits & vegetables and tea (1 per cent each) moved up.
The index for Non-Food Articles declined by 0.4 per cent to 282.1 from 283.1 for the previous week due to lower prices of raw rubber (7 per cent), linseed (2 per cent) and castor seed (1 per cent). However, the prices of raw jute (2 per cent) moved up.
In the case of Fuel, Power, Light & Lubricants, which have a weight of 14.23 per cent in the WPI, the index remained unchanged at its previous week’s level of 365.3.
The annual rate of inflation for this group also remained unchanged at its previous week’s level of 12.33 per cent. It was -6.17 per cent during the corresponding week of the previous year.
Source: NetIndian