Food inflation fell to 16.30 per cent for the week ended March 6 on easing prices of pulses and vegetables, but fuel inflation shot up to 12.68 per cent.

Wholesale price-based inflation rose to 9.89 per cent in February from 8.56 per cent in the previous month due to increase in prices of certain food items such as sugar and the hike in excise duty on fuel announced last month.

The government on Friday claimed that the economy has turned around and there was no longer uncertainty, despite the deficit monsoon and the drought situation in large parts of the country.

Industrial production grew by a robust 16.7 per cent in January compared to just one per cent in the same month a year ago, led by a good show from the manufacturing sector.

The Planning Commission today said food prices will come down in the next two months easing the overall inflation, which is currently at over 8.5 per cent.