India's food inflation has fallen drastically below zero to the level of - 3.36 percent for the week till December 24 as prices of onions, potatoes and vegetables fell in the market, according to the latest data released by the government.

India's food inflation, which is calculated on the bases of the Wholesale Price Index (WIP), was recorded 0.42 percent in the previous week. The food inflation eased due to the improved supplies of essentials and a low base. The prices of essential items like vegetables, onion, potato and wheat declined.

The food inflation has fallen sharply since the week till November 5 when it was recorded at the level of 10.63 percent. The primary articles price index rose 0.10 percent compared to 2.70 percent in the previous week.

The country's headline inflation remained high at 9% for a year even after more than a dozen hikes in rates by the central bank, the Reserve Bank of India since March 2010.

The RBI governor D Subbarao has already indicated that the central bank is considering a reversal of the monetary policy as the inflation is falling and the high interest rates have affected economic growth in the country. The fall in inflation is due to a good kharif harvest as well as a high base. The fall comes as a relief to the government and the central bank.