Food Inflation To Drop In Coming Weeks: Sharad Pawar
Union Agriculture Minister Sharad Pawar on Friday said the decline in prices of agricultural commodities will bring down food inflation, which is pegged at 12.63 percent at present.
Pawar said that the rates of most agricultural commodities are declining.
He added that it is great relief to final consumers. The tendency of food inflation will continue to fall in the coming weeks.
"Food inflation is coming down day by day," he added.
For the week ending on June 26, food inflation dropped for the second successive week.
But, the economic experts believe that food inflation would continue to remain in double digits for sometime now, as the impact of fuel price increase would be seen going ahead.
Earlier on June 25, a ministerial group headed by Finance Minister Pranab Mukherjee, had raised the pricing controls on petroleum following which the price of petrol grew by Rs 3.50 per litre.
The administration increased the prices of diesel by Rs 2 per litre, kerosene by Rs 3 per litre and LPG by Rs 35 per cylinder. (With Inputs from Agencies)