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However, there were sharp increases in food costs. Overall food prices rose 11.8 percent in January, the highest increase in six months. Pulses were up 16.9 percent and potatoes surged 79.1 percent. "Food inflation remains high, which is not good news for the majority of Indians for whom expenditure on food is a major part of their budget," said Mahambare, About 69 percent of India's 1.2 billion people live on $2 or less a day, the World Bank estimates. Lifting its population out of poverty is one of the main reasons India needs faster economic growth.
[Associated
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