Accordin to governemnt’s data released on 1 December 2011, food-price inflation slowed to 8 per cent in the week ended 19 November 2011 from 9.01 per cent a week ended 12 November. Slower growth in food prices will likely help headline inflation to settle between 6 and 7 per cent before the end of the financial year in March 2012.
Prices of vegetable and cereals slowed but costs of fruits, milk, eggs, fish and meat did dip. the Wholesale Price Index (WPI) published on 1 December 2011 showed that vegetables were 5.13 per cent dearer year-on-year during the week under review. Onions became cheaper by 40.65 per cent year-on-year in the week ended 19 November, while potato prices were down by 10.98 per cent.
Inflation for cereals dropped 0.89 percentage points to 1.97 per cent. Wheat prices were 4.71 per cent cheaper. Rice was 2.52 per cent dearer, its inflation having been 2.75 per cent in the previous week.
Fruits price however rose to 2.39 per cent and milk 0.95 per cent. Prices of eggs, meat and fish accelerated 1.57 per cent over the previous week.
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