In­dia’s food in­fla­tion rate falls as monsoon boosts out­put

The Pak Banker - - International3 -

NEW DELHI: In­dia's food in­fla­tion rate fell to the low­est level in one and a half years as monsoon rains raised crop out­put and mod­er­ated prices.

An in­dex mea­sur­ing whole­sale prices of agri­cul­tural prod­ucts in­clud­ing lentils, rice and veg­eta­bles com­piled by the com­merce min­istry rose 8.6 per­cent in the week ended Nov. 20 from a year ear­lier, a re­port showed in New Delhi. It gained 10.15 per­cent the pre­vi­ous week.

" The gen­eral trend of de­cline in food prices is be­cause of good agri­cul­tural pro­duc­tion due to ad­e­quate mon­soons," Dhar­makirti Joshi, Mum­bai-based chief econ­o­mist at Crisil Ltd., the In­dian unit of Stan­dard & Poor's, said be­fore the re­port.

The coun­try re­ceived the most rain­fall in three years in the June to Septem­ber monsoon sea­son, help­ing spur farm pro­duc­tion and cap gains in food prices. -Reuters

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