NEW DELHI (Commodity Online): India’s annual food inflation for the week ended December 31 has fallen to -2.90 % due to sharp fall in prices of vegetables, onion, potato, fruits and some other essential commodities.
The sharp decline in food inflation is partly because of the base effect and also improved supply of seasonal crops.
Percentage of inflation in the corresponding week in the preceding year was 19.09 percent.
As per the official data released on Thursday, onion prices slumped by 74.77 per cent during the week, while vegetable also turned cheaper by 49.03 per cent on a year-on-year basis.
Prices of potato, on the whole, fell by 31.97 per cent, as did wheat by 3.35 per cent. Pulses prices rose 14.72%, eggs, meat and fish prices rose 15.22%, Fruits 9% and oilseeds 12.65% on an annualised basis.
