India: Food Inflation Continues to Evaporate

December 29th, 2011
in econ_news

Econintersect:  In the latest week food inflation in India fell to near zero, quite a drop from double digits just over a month ago.  The latest data pulsesshowed a six-year low of 0.42% for the week ended December 17.  As reported last week by GEI News, the previous reading was 1.81%.  A year ago the inflation rate for food stood above 15% and as recently at November 3 was 12.21%.  The primary declines continued in areas of grains, potatoes and vegetables, while protein sources were rising in price.

Follow up:

From The Times of India:

… onions grew cheaper by 59.04% year-on-year during the week under review, while potato prices were down by 33.76%. Prices of wheat also fell by 3.30%.  Overall, vegetables became 36.02% cheaper during the week ended December 17.

… Pulses became 14.07% costlier during the week under review, while milk grew dearer by 11.30 per cent and eggs, meat and fish by 11.56%.

Fruits also became 8.46% more expensive on an annual basis, while cereal prices were up 2.15%.

Pulses are certain variety of beans (like lima and navy beans) and other legumes such as lentils, which are rich in proteins and essential amino acids.  The caption photo shows examples of pulses.  Click on photo for larger image.

Sources:  The Times of India and GEI News

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