Food inflation dips to 7.7 percent

Food inflation dips to 7.7 percentNew Delhi, May 12 : India's food inflation fell to 7.7 percent for the week ended April 30, compared to 8.53 percent recorded in the previous week, as prices of essential food items like milk, meat and pulses eased further, official data showed Thursday.

The fuel index, which has 14.91 percent weightage in the wholesale price index basket, fell to 12.25 percent during the week under review, compared to 13.53 percent in the previous week.

The index of primary articles also slipped to 11.96 percent during the week under review from 12.11 percent in the previous week, according to the data released by the ministry of commerce and industry.

In a bid to curb the stubbornly high inflation, the Reserve Bank of India (RBI) had raised key policy rates by 50 basis points on May 3.

The central bank said it was willing to sacrifice growth to some extent but would strive to bring down inflation, which has now spread from food to manufacturing goods as well.

The following are the yearly rise and fall in prices of some main commodities that form the sub-index for food articles:

Onions: 12.42 percent

Vegetables: (-) 3.64 percent

Fruits: 35.43 percent

Potatoes: (-) 3.58 percent

Milk: 4.3 percent

Eggs, meat, fish: 4.62 percent

Cereals: 4.54 percent

Rice: 2.08 percent

Wheat: 0.06 percent

Pulses: (-) 9.05 percent (IANS)