Food inflation rate decreases to 18.65 % in India
According to an official statement the food inflation rate has declined marginally to 18.65% from 19.95 % in the last week, while there has not been any change registered in the fuel index.
The insufficient rains during the monsoon and the floods in certain areas have badly affected the Kharif crops in the country due to which the food prices kept rising during the last few months.
The figures revealed the rise in potato prices by 115.04 percent in the last one year, cereals by 11.02 percent, rice by 10.78 percent wheat by 8.77 per cent, pulses by 41.61 per cent, vegetables by 37.97 per cent, onions by 17.88 per cent, fruits by 10.20 per cent and milk by 13.61 per cent.
The annual inflationary rate for primary articles decreased to 14.66 percent for the week ended on December 12 as compared to the 14.98 percent in the previous week. The primary articles constitute 22.02 percent of the total weight in the whole sale price index.
Finance Minister, Mr. Pranab Mukherjee has said that the inflation is standing as a major problem for the growth of the Indian economy both in long and short term.