India's annual rate of inflation for food articles declined 0.29 percentage points to 12.30 percent for the week ended October 30, 2010, from 12.59 percent in the previous week, according to a government release on Thursday.
The wholesale price index (WPI) for food articles group rose by 0.4 percent to 179.8 from 179.1 for the previous week due to higher prices of barley, fruits and vegetables and egg and fish-inland, poultry chicken and gram. However, the prices of masur, arhar, moong and urad and bajra declined.
The rate of inflation of food articles for the 52-week average inflation for the week was at 18.69 percent. The rate of inflation year on year basis marginally decreased to 12.30 percent from 12.59 percent against to the corresponding period.
The WPI for primary articles rose by 0.3 percent to 180.8 for the week as compared to 180.3 for the previous week.
The annual rate of inflation for primary articles, calculated on point to point basis, stood at 14.87 percent for the week as compared to 15.43 percent the previous week.
The index for non-food articles group declined by 0.1 percent to 161.7 from 161.9 for the previous week due to lower prices of gaur seed, raw silk, niger seed and cotton seed and groundnut seed. However, the prices of safflower, castor seed and raw rubber and copra moved up.
The index for fuel and power remained unchanged at its previous week's level of 148.3.
The annual rate of inflation for fuel and power, calculated on point to point basis, has also remained unchanged at its previous week’s level of 10.67 percent for the week.
The final WPI for all commodities stood at 232.6 for the week ended April 18, 2009, as compared to 230.2 and annual rate of inflation based on final index, calculated on point to point basis, stood at 1.62 percent as compared to 0.57 percent.
The Reserve Bank of India (RBI) has hiked the repo rate by 25 basis points to 6.25 percent and reverse repo rate by 25 basis points to 5.25 percent. This is the sixth rate hike this year by the RBI.