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18 February 2010 at 13:15 IST
India food inflation almost hit 18 percent
NEW DELHI (Commodity Online) : India’s whole sale prices based food inflation almost hit 18 percent for the week ended February 16.
According to official figures from the Commerce Ministry, The annual rise in the index for food articles was 17.94 percent for the previous week.
The wholesale price-based food inflation rose for the fourth consecutive week despite assurances from the government that food prices would soon start coming down.
Prices of essential items continued to move up, with vegetables dearer by 19.56 percent, potatoes by 38.02 percent, pulses by 38.04 percent and fruits by 10.39 percent over the 52-week period.
The limited data on wholesale price index further showed a sharp rise in the index for primary articles by 16.23 percent, while that for fuels was up 9.89 percent.
India's annual rate of inflation, based on the wholesale prices index, had risen to 8.56 percent in January from 7.31 percent in the previous month, primarily due to galloping food prices.
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