Food inflation falls to 12.92% for the week ended June 19

Food inflation fell sharply to 12.92% for the week ended June 19 from 16.90% in the previous week as cost of cereals and vegetables declined. On a yearly basis, potatoes became cheaper by about 40% and onion prices eased by over 7%. Prices for pulses fell by 0.47% on a weekly basis. However, on an annual count, prices soared by 31.57%.Overall inflation for May was 10.16%, led by high food prices. Food inflation has remained above the 16% level for most part of the year.Analysts expect prices to slide in the coming months following a good monsoon shower.