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Government has taken steps to control food inflation: K V Thomas

New Delhi, Wed, 18 Apr 2012 ANI

New Delhi, Apr 18 (ANI): Minister of State for Consumer Affairs, Food and Public Distribution K V Thomas on Wednesday said the government had taken adequate steps to control spiralling food inflation.

Admitting the surge in the price of milk, egg and vegetables due to spiralling inflation, Thomas said the government was taking adequate steps to control inflation.

"We are taking adequate steps to control the inflation and this process is going on. Sometimes a little (inflation) may go up, a little may come down. We are trying to stabilize the situation. Prices of some of the items like milk and egg have gone up. But (prices of) some items like vegetable and food are coming down also," said Thomas.

Explaining the reasons, Thomas said the government had imported casein to meet the growing demand for milk.

"We don't have that much milk-production in the country as much there is demand. Our demand is also going up every year. As the demand is going up we should have mechanism of producing more. But things are under control because we are importing casein that has been converted into milk and all. So we are taking some action but it is true that price of egg and milk has gone up," he added.

Indian consumer prices rose 9.47 percent in the year to March, faster than the previous month's reading of 8.83 percent, government data showed.

The consumer price-based food inflation accelerated to 8.22 percent in March from 6.62 percent in February.

Inflation as measured by the wholesale price index (WPI) eased marginally to 6.89 percent in the year to March, data showed.

Retail price pressures could build up in coming months as the country is yet to pass on a rise in global crude oil prices to consumers.

The Reserve Bank of India on Tuesday slashed policy rates by a steeper-than-expected 50 basis points to boost sagging economy.

The annual consumer price inflation data (CPI), which was launched in February, measures retail prices in major food groups, fuel, clothing, housing and education across rural and urban India. (ANI)

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