Inflation crosses six per cent mark again

Inflation crosses six per cent mark again
PRESS TRUST OF INDIA

NEW DELHI, JULY 30: Annual rate of inflation once again crossed the six per cent level and stood at 6.12 per cent (p) during the week ended July 15 as against 5.92 per cent in the previous week.

The rate was 1.99 per cent in the corresponding week last year. Inflation rate has been high compared to last year as state-controlled prices of products like petroleum have gone up sharply.

During the week, the Wholesale price index for all commodities (base: 1993-94=100) stood at 152.5 (p) as against 152.2 (p) in the previous week, showing a rise of 0.2 per cent.

According to the latest data, the final wholesale price index for `all commodities' during the week ended May 20 stood at 152.0 as against the provisional figure of 151.9.

The annual rate of inflation this week based on the final index calculated on a point to point basis stood at 6.37 per cent as against 6.30 per cent calculated on the basis of provisional index.

The rate of inflation based on the consumer price index for industrial workers (CPI-IW) for the month of May was 5.51 per cent.

During the week ended July 15, the index for primary articles, which includes mainly agricultural products rose by 0.1 per cent to 164.0 from 163.9.

Items which fluctuated sharply during the week were fruits (up 3 per cent), arhar (down 3 per cent), sunflower (up 10 per cent), rape and mustard seed (up 4 per cent), fodder (down 7 per cent).

The index for `food articles' increased by 0.1 per cent to 172.2 from 172.1 in the previous week due to higher prices of fruits (3 per cent), ragi, gram and masur (1 per cent each). However, the prices of arhar (3 per cent), jowar and fish inland (2 per cent each) and eggs (1 per cent) declined.

The `non food articles' index rose by 0.3 per cent to 148.3 from 147.9 due to higher prices of sunflower (10 per cent) and rape and mustard seed (4 per cent). However, prices of fodder (7 per cent), mesta (2 per cent) and raw jute, groundnut seed, copra, linseed and kardi seed (1 per cent each) declined.

During the week, the index for fuel, power, light and lubricants remained unchanged at its previous week's level of 194.5. The index for manufactured products rose by 0.3 per cent to 139.1 from 138.7 in the previous week.

Index of fuel, power, light and lubricants, which mostly consists of items whose prices are controlled by the state, shot up by 26.79 per cent during the last one year while indices of other two major groups, primary articles and manufactured products rose merely by 3.99 per cent and 1.75 per cent respectively.