Economy

Rising food inflation a concern: Pranab

PTI New Delhi | Updated on January 06, 2011 Published on January 06, 2011

Union Finance Minister Pranab Mukherjee.   -  Business Line

The Finance Minister, Mr Pranab Mukherjee today said that food inflation at 18.32 per cent for the week ended December 25, remained an area of concern.

“It has moved further. It is an area of concern,” the Finance Minister told reporters after the government’s weekly data showed that the food inflation kept climbing for the fifth straight week. The weekly inflation figure is the highest during the past one year.

Soaring onion and other vegetables’ prices led to the sharp rise in inflation at 18.32 per cent for the week that ended on Christmas, up from 14.44 per cent recorded in the previous week.

However, Mr Mukherjee added these were weekly variations and figure for December month was yet to come before a final assessment could be made.

“These are weekly (figures). Let us wait for monthly figures. These are weekly variations, but is a matter of concern,” he added.

The overall inflation in November was 7.48 per cent, from 8.58 per cent a month ago. Among the individual items, onion became dearer by 82.47 per cent on annual basis, while egg, meat and fish became costlier by 20.83 per cent, fruits by 19.99 per cent and milk by 19.59 per cent.

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Published on January 06, 2011
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