Food inflation is down sharply

Jun 30, 2011 |

IANS

New Delhi

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In what could come as a respite to consumers and policymakers, India's food inflation slipped to 7.78 per cent for the week ending June 18, compared to 9.13 per cent recorded in the previous week, official data showed on Thursday.

Food inflation had risen to a two-month high last week.

As per data released by the commerce and industry ministry, the primary articles index fell to 11.84 per cent compared to 12.62 per cent in the previous week.

The index for fuels and power, however, rose to 12.98 per cent.

The dip in the food inflation figures should give some assurance to the Reserve Bank of India which has been hiking interest rates consistently since March 2010 to bring down prices.

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