FM happy with decline in food inflation

Expressing happiness on the latest inflation figures released Thursday for the week ending on Feb 5, Union Finance Minister Pranab Mukherjee said he is delighted that inflation in food articles has come down sharply in that period.

The inflation in food articles has come down to 11.05% in the week ending on Feb 5 from 13.07% in the previous week (29th Jan, 2011).

Mukherjee said that even more importantly, not only has food article inflation fallen, but actual food prices have fallen very substantially with the index going down to 182.9 from 186.9 in the previous week.

Even for non-food articles, the index in the week ending on Feb 5 has declined to 181.3 from 183.5 in the previous week (29th Jan 2011), he added.

Mukherjee said that this should result in overall inflation figures going down, even if not over the next 2 to 3 weeks, but over the next 1 or 2 months.