New Delhi: A week after declining to an 18-month low, food inflation rose again, albeit marginally, to 8.69% for the week ended 27th November on back of rise in prices of rice, onions, fruits and milk, reports PTI.
Food inflation in the previous week stood at 8.60%, which was the lowest since May last year.
The upward trend in food inflation also marked a break of seven consecutive weeks of fall in food prices.
Food inflation during the corresponding week of last year was 20.24%.
During the week under review, rice became costlier by 1.60% on an annual basis, according to the government data released today.
Cereals overall also became dearer by 0.66%, while food items like eggs, meat and fish rose by 16.16% year-on-year.
In the vegetables segment, onions were expensive by 25.48%.
On a year-on-year basis, fruits and milk became costlier by 18.31% and 17.76%, respectively.
However, wheat prices were down by 3% on an annual basis.
While pulses fell by 10.91%, vegetables became cheaper by 3.42% largely aided by a sharp dip in potato prices that came down by as much as 45.40% on an annual basis.
The sudden rise in food inflation, after a record fall, is likely to be a cause of worry for the government which was looking at a decline in the overall inflation to 6% by March next year.
Overall inflation, which also takes account of manufactured goods, primary articles and fuels, was 8.58% in October. The data for November is expected next week.
Chief economic advisor Kaushik Basu earlier this week said that overall inflation is likely to decline to around 7.5% in November.
Stocks of telecom companies took a beating. Mahanagar Telephone Nigam and Bharti Airtel (down 3%...