Food Inflation leaves double-digit tag

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Food Inflation leaves double-digit tag
India's food inflation as measured by Wholesale Price Index (WPI) slipped sharply to 9.01% for the week ended November 12, finally stepped down from its double digit level.

It stood at 10.63% in the previous week.

The decline in food inflation was on account of fall in prices of vegetables, milk, fruit and meat, eggs and fish.

Fuel inflation remain steady at 14.91%.

Finance Minister Pranab Mukherjee expressed hopes that the overall inflation may come down in coming weeks.

"If these trends continue for the next two weeks of November, I hope there will be moderation in inflation and it will have an impact on the year-end inflationary figures," Finance Minister told reporters after government data released on Thursday.

He further said, “"Normally, I do not have much confidence in the weekly figures. But if the trend continues, let us hope for the best."

The headline Inflation for the month of October stood at 9.73%, the recent slip in food inflation may get visible in the next inflation figures.

Story first published: Friday, November 25, 2011, 10:45 [IST]
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