ID :
125958
Fri, 06/04/2010 - 00:54
Auther :

Pulses, milk push food inflation to 16.55 pc

New Delhi, June 3 (PTI) Driven by higher prices of
pulses, milk and fruits, food inflation rose to 16.55 per
cent for the week ended May 22.
Inflation increased by 0.32 percentage point from 16.23
per cent in the previous week, food inflation data released
here on Thursday showed.
Potatoes and onions became cheaper by 34.09 per cent and
11.55 per cent respectively.
Prices of pulses, on the other hand, shot up by 30.84
per cent, that of milk by 21.12 per cent, fruits 13.7 per
cent and vegetables 1.34 per cent.
Among other food items, rice and wheat turned costlier
by 7.30 per cent and 3.07 per cent respectively.
Although food prices have been firming up, experts feel
prices will come down in the next 2-3 months.
"Seasonal pressure on certain food products is expected
to ease in early July... from August and September we will
see a continuous downtrend in food inflation," said HDFC
chief economist Abheek Barua.
As regards spiralling prices of pulses, Barua said,
"Globally there has been a shortage of pulses and the impact
is also evident in India."
The overall inflation for April, that includes food and
manufactured goods, stood at 9.59 per cent, moderating
slightly from 9.90 per cent in March. PTI

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