NEW DELHI (Commodity Online): On sharp fall in prices of onions, vegetables, potato and wheat, India's food inflation falls to -0.42% for the week ended 7th January.
According to official data, the onion prices fell by 75.42% while vegetable also turned cheaper by 45.81% on a year-on-year basis.
The Prices of potato fell by 23.84%, while wheat dropped by 3.57%.
The annual inflation rate of the food article prices grew 0.43% compared to 2.90% in the preceeding week, while for 'Non-Food Articles' also rose to 1.84% from 1.29%.
The annual rate of inflation for Fuel & Power remained unchanged at its previous week's level of 14.45%.
The third consecutive fall in the inflation rates may prompt the Reserve bank of India(RBI) to cut interest rates. The Apex bank had hiked the interest rates 13 times to curb inflation since 2010.
