Food inflation up at 17.47 pc; Onions still costly

New Delhi, Dec 3 (PTI) Food inflation soared to 17.47 per
cent in the third week of November from 15.58 per cent a week
ago, mirroring a shortage in supply that set in following weak
monsoon in India.
With the economy on upswing, analysts said the rising
food prices should prompt the government and the Reserve Bank
of India to shift their focus on controlling inflation,
otherwise it would increase manufacturing inflation as well.
The economy grew by 7.9 per cent in the second quarter
of this fiscal against 6.1 per cent in the previous quarter,
rekindling hopes of a faster and steady recovery.
On weekly basis, onions turned expensive by over 12 per
cent, while it surged by 30.89 per cent on a yearly basis.
Rice and wheat prices also rose over 10 per cent on an
year-on-year basis.
However, the rise in prices of potatoes that have been
surging, declined to 94.17 per cent on yearly basis, against
over 100 per cent increase a week ago.
Altogether, inflation of primary articles (items found in
raw form) rose to 12.53 per cent during the week ended
November 21 against 11.04 per cent in the previous week.
The Prime Minister's Economic Advisory Council Chairman,
C Rangarajan, has said food prices must be controlled,
otherwise they have a tendency to lead to manufacturing
inflation. PTI