Food inflation has come down from 9.01 percent to 8 percent: Mukherjee

   Dec 1, 3:56 pm

New Delhi, Dec 1 (ANI): Finance Minister, Pranab Mukherjee on Thursday announced that the food price index had risen to 8 percent, the slowest pace in nearly four months, while the fuel price index climbed to 15.53 percent in the year to November 19.

"Weekly inflation figures, that relates to 19 November 2011, primary articles inflation has come down from 9.08 percent to 7.74 percent. Food articles inflation has come down from 9.01 percent to 8 percent. And after month of August, that means full September, October, for the first time it has come down to 8 percent," he told mediapersons outside the parliament.

Mukherjee further said that if inflation trends continued this way, the year-end figures might sit at around 6 to 7 percent.

In the previous week, annual food and fuel inflation stood at 9.01 percent and 15.49 percent, respectively.

The headline inflation has stayed above 9 percent for the 11th month, despite 13 rate increases by the central bank since March 2010.

The Reserve Bank of India (RBI) had in its October review said if inflationary pressures started to abate by December, more rate increases might not be needed. (ANI)

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