India’s Food Inflation Dips Marginally To 17.81% From 17.87%

food inflationary rateFor the week ended Feb 27, the country's annual food inflationary rate based on wholesale prices was 17.81% mainly because of higher rates of pulses, potatoes and milk.

The annual food inflation rate for the week ended Feb 20 stood at 17.87%.

Last week, Prime Minister Dr. Manmohan Singh told both parliament houses that controlling inflation was a major worry for the administration and high food costs was more to do with supply-side restraints.

"I will be the last one to deny that the behaviour of food prices in the last one year is something which does not worry us," Dr. Singh the prime minister told the Lok Sabha, the lower house of parliament.

While speaking on the motion of thanks on president's address, PM said, "The house has my assurance that if any practical method can further bring relief to our people, our government will always be sensitive to the concerns of the members."

"To put matters in perspective, it is important to recognize that in 2009 we have had one of the most severe droughts in recent history -- the worst since 1972," he added.

Planning Commission Deputy Chairman Montek Singh Ahluwalia, however, thinks that rates will be controlled shortly.

Below are price increases of some essential food items over the 52-week period:

- Pulses: 33.38%
- Potatoes: 22.46%
- Vegetables: 15.61%
- Milk: 15.31%
- Wheat: 14.34%
- Cereals: 11.53%
- Onions: 2.98%
- Fruits: 11.77%
- Rice: 9.38%(With Input from Agencies)