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Food prices fall for second consecutive week in India

01-12-2012 16:36 BJT

NEW DELHI, Jan. 12 (Xinhua) -- Food prices fell for the second consecutive week in India as food inflation remained in the negative zone of minus 2.90 percent for the week ended Dec. 31, 2011, reported Press Trust of India Thursday.

Food inflation, as measured by the Wholesale Price Index (WPI), stood at minus 3.36 percent in the previous week, compared with 19 percent in the corresponding week of 2010.

Onion became cheaper by 74.77 percent year-on-year during the week under review, while potato price was down by 31.97 percent. Price of wheat also fell by 3.35 percent.

Overall, vegetable became 49.03 percent cheaper during the week.

The fall in the rate of price rise of food items since the first week of November 2011 is substantial, as it has plummeted from double-digit territory into the negative zone, said the report.



Editor:Bai Yang |Source: Xinhua

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