Food inflation nears 18 percent

The wholesale price-based food inflation rose to 17.94 per cent in the last week of January from 17.56 per cent in the previous week.

Potato prices jumped 40.57 per cent over the last year, while pulses became dearer by 41.24 per cent.

The inflation for primary articles, which include food and non-food items in raw form, increased to 15.75 per cent during the week from 14.56 per cent a week earlier.
The price index for food articles, on the weekly basis, moved up 0.3 per cent on account of higher rates of fruits and vegetables (2 per cent), while rates of fish marine, spices, condiments and bajra increased by one per cent each.

Last week, however, Prime Minister Manmohan Singh had said the worst of food inflation was over and the situation will ease soon.

"... the worst is over as far as food inflation is concerned. I am confident that we will soon be able to stabilise food prices," he had said while addressing the Chief Ministers' conference on food prices here.