Food inflation falls to 10.63%

Food inflation falls to 10.63%The food inflation in India fell to 10.63% in the week to November 5 while prices of most food items continue to rise in the country.

The food inflation, which is measure of by the Wholesale Price Index (WPI), was recorded at 11.81% in the previous week to October 29. the food inflation was at 11.41% in the same weak of 2010.

The prices of onions fell 22.89% year-on-year, while wheat price were down 3.63%, according to the latest data released by the government. On the other hand, all other food items recorded an increase in prices.

Vegetables became 27.26% costlier, pulses grew dearer by 14.44%, milk by 10.74% and eggs, meat and fish by 11.73%. Fruits Prices rose 5.99% while cereal prices were up 3.53%.

Meanwhile the overall inflation has risen significantly to 9.73 per cent in October, according to the latest data released on Monday. The country's inflation was at 9.72 per cent in September and it was at 9.08 per cent in October, 2010. The inflation recorded the rise due to the increasing prices of food products, fuel and manufactured goods.

Food commodities became expensive by 11.06 per cent year-on-year during the month. It was recorded at the level of 9.23 per cent in September. Vegetables became 21.76 per cent expensive while fruit prices grew 11.96 per cent and milk by 11.12 per cent in October.

The RBI has been concerned over high inflation in the country and has raised the interest rates 13 times since March last year in order to try to control the high prices of commodities.