New Delhi, Jan 5 (ANI): Food inflation came down to (-) 3.36 percent for the week ending on December 24, as prices of vegetables, onion, potato and wheat recorded a decline.
This is the first time in six years that food inflation has shown a decline on an annual basis.
Food inflation, as measured by Wholesale Price Index (WPI), stood at 0.42 percent in the previous week. It was almost 21 percent in the corresponding week of 2010.
Onion has become cheaper by 73.74 percent year-on-year during the week under review, while potato prices were down by 34.01 percent.
Experts have suggested that the decline in food inflation will help in bringing down the interest rates by the Reserve Bank of India in its next quarterly monetary policy review.
In its second quarterly review of the monetary policy last month, the central bank had said it expects inflation to remain elevated till December on account of the demand-supply mismatch before moderating to 7 percent by March, 2012. (ANI)
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