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| By Suvajit Dutta |
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Thursday, December 03, 2009 (14:38:23) |
| Tags : India, inflation, economy, RBI |
Food Inflation rises up by 17.47 percent; Onions still expensive |
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| New Delhi: Food inflation has increased to 17.47% from 15.58% within the 3rd week of November 2009. A deficit in supply was also recorded due to the weak monsoon in India this year.
With the betterment of the economic condition of the nation, financial analysts have stated that the increasing food prices must draw the attention of the Reserve Bank of India and the government on controlling food inflation; or else it would lead to the increment of manufacturing inflation also.
The economy increased by 7.9% within the second quarter of this financial year in comparison to the 6.1% growth as recorded in the preceding quarter, regenerating expectations of a steady and speedy recovery.
Meanwhile, the cost of onions increased by above 12% when counted on a weekly basis, whereas it increased by 30.89% annually. The prices of wheat and rice also increased above 10% on a twelve-monthly basis. |
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