Rising food inflation a concern: Pranab

Rising food inflation a concern: Pranab

New Delhi: Finance minister Pranab Mukherjee on Thursday said that food inflation at 18.32% for the week ended 25 December, 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% for the week that ended on Christmas, up from 14.44% recorded in the previous week.

However, 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%, from 8.58% a month ago.

During the week prices of vegetables rose by 58.58% in the wholesale market.

Among the individual items, onion became dearer by 82.47% on annual basis, while egg, meat and fish became costlier by 20.83%, fruits by 19.99% and milk by 19.59%.