By SHUBHAJIT Chakraborty

New Delhi, Jan. 28 – Are you protected against the menace of rising inflation? For common men, inflation is more than just an abstract financial term – it is just a painful pinch on the already frozen pocket. In a recent report has revealed that India’s annual food inflation based on wholesale prices rose to 17.4 percent for the week ended Jan 16 from 16.81 percent the week before.

The essential commodities continue to rule the escalating price hike. The potatoes dearer by 57.56 percent over the past 52 weeks, pulses up 46.87 percent, and vegetables costlier by 10.5 percent. However, people get little respite with onion price slips 1.69 percent.

The data on the wholesale index released by the commerce and industry ministry Thursday showed that the primary food articles got a steep hike of 14.66 percent, though the fuels declined 5.28 percent. India’s overall inflation rate, based on the wholesale prices index, had risen sharply to 7.31 percent in December from 4.78 percent November. The overall food index rose up to 19.17 percent.

The price rise of some essential food items over the 52-week period are:

- Potatoes: 57.56 percent
- Pulses: 46.87 percent
- Cereals: 14.06 percent
- Rice: 12.60 percent
- Milk: 13.95 percent
- Wheat: 14.48 percent
- Vegetables: 10.5 percent
- Fruits: 4.17 percent

Finance minister Pranab Mukherjee assured that the inflation was a matter of concern for both government and people and government was monitoring the situation. In a statement agricultural minister Sharad Pawar said prices would come down in 8-10 days.

To monitor the issue and check the price bite, prime minister Mr. Manmohan Singh is scheduled all chief ministers meeting February 6. The meeting was earlier scheduled for Jan 27.