Food inflation raises to 16.49% for week ending May 8

India's annual food inflation edged up for the second week, rising to 16.49% for the week ended May 8 as shown by the official data released on Thursday.

The food inflation stood at 16.44% the previous week, up from 16.04% for the week ended April 24.

Data on the wholesale price index (WPI) released by the commerce and industry ministry showed that food inflation rose though the index for this group dropped marginally during the week under review.

The primary articles index was up 16.19%, compared to a rise of 16.76% during the previous week. Fuel prices rose 12.33% during the week ended May 8, against a similar increase during the last week.

Following are the rise and fall in prices of some essential food items over the 52-week period:

- Pulses: 33.65%

- Milk: 21.12%

- Fruits: 17%

- Rice: 7.72%

- Cereals: 6.37%

- Wheat: 4.74%

- Potatoes: (-) 30.36%

- Onions: (-) 16.01%

The overall annual rate of inflation in April stood at 9.59%. The government, farmers and consumers alike are hoping that the monsoon will be good this year after last year's erratic and rainfall.

Over 60% of India's cultivable land is rain-fed, and hence the monsoon plays a critical part in food grain output and economic growth.

The India meteorological department has forecast normal rainfall during the June-September monsoon period. The seasonal rainfall is likely to be 98% of the 50-year average this year.