Rising food prices ease deflation pressure in India

New Delhi - The firmness in the annual rate of inflation was attributed to rising prices of onions, pulses, wheat and vegetables.

India's annual rate of inflation, based on wholesale prices, inched up to (-) 3.81 per cent for October from (-) 4.54 per cent for the month before, mainly on account of an 86 per cent spike in the prices of onions and 53 per cent in pulses over the past year.
The annual inflation rate, based on the official wholesale price index (WPI), was ruling at 1.66 per cent in October last year.
The firmness in the annual rate of inflation was attributed to rising prices of onions, pulses, wheat and vegetables which have continued to hit household budgets.
On a month-on-month basis, the annual rate of inflation has been in the negative territory since November last year.
The data revealed that among the three major sub-indices of the WPI, the inflation rate for primary articles and manufactured products declined by 0.36 per cent and 1.67 per cent respectively, during the month under review.
The index for fuels and power, meanwhile, plunged by 16.32 per cent. However, food inflation in the month under review was higher by 2.44 per cent. - IANS