Food Inflation stayed in the negative region for the second consecutive week on the back of drastic fall in prices of onions, potato and wheat.
The index stood at (-2.90%) during the week ended December 31, 2011 as compared to (-3.36%) in the week earlier. The prices of onion declined by 74.77%, potato became cheaper by 31.97% and wheat fell by 3.35% on a yearly basis. The overall vegetable prices declined 49.03% during the week ended December 31, 2011.
On the other end, the prices of pulses became costlier by 14.72%, milk became expensive by 10.79%, Egg, meat and fish prices were increased by 15.22% on an annual basis. Fruits became dearer by 9% and cereal prices surged 2.03% on a yearly basis.
The overall primary articles index was stood at 0.51% during the week ended December 31. Fuel and Power Inflation stood at 14.45 percent against 14.60%
The fall in food inflation prompts the hard work of Reserve Bank of India taken in the last two years to control inflation. The apex bank had turned hawkish raised Interest rates for 13 times to cool inflation in the country.
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