General

Inflation rate rises slightly to 5.6 per cent

NetIndian News Network

The annual inflation rate for the week ended January 10 rose slightly to 5.60 per cent as compared to 5.24 per cent in the previous week, official figures released today said. The headline inflation rate was 4.36 per cent during the corresponding week (ended January 12, 2008) during the previous year, the statement said. The official Wholesale Price Index for 'All Commodities' (Base: 1993-94 = 100) for the week ended January 10 rose by 0.4 percent to 230.0 (Provisional) from 229.0 (Provisional) for the previous week. According to the figures, the index for Primary Articles, a major group with a weight of 22.02 per cent, rose by 1.2 percent to 249.3 (Provisional) from 246.3 (Provisional) for the previous week. The groups and items for which the index showed variations during the week are as follows:
  • The index for 'Food Articles' group rose by 2.2 percent to 244.6 (Provisional) from 239.4 (Provisional) for the previous week due to higher prices of fruits & vegetables (9%), wheat (2%) and barley, condiments & spices, milk, ragi and rice (1% each). However, the prices of fish-marine (2%) and moong, tea, urad, gram and jowar (1% each) declined.
  • The index for 'Non-Food Articles' group declined by 0.9 percent to 233.0 (Provisional) from 235.1 (Provisional) for the previous week due to lower prices of soyabean (12%), castor seed (10%), niger seed (7%), raw silk (3%) and copra (1%). However, the prices of gingelly seed (9%) moved up.
  • The annual rate of inflation, calculated on point-to-point basis, for 'Primary Articles' stood at 11.64 percent (Provisional) for the week ended January 10, 2009 as compared to 10.85 percent (Provisional) in the previous week. It was 4.49 percent as on January 12, 2008, that is a year ago.
  • The annual rate of inflation for 'Food Articles' stood at 11.64 percent (Provisional) for the week ended January 10, 2009 as compared to 9.92 percent (Provisional) in the previous week. It was 1.95 percent a year ago.
  • The index for another major group--Fuel, Power, Light and Lubricants (Weight 14.23 per cent) remained unchanged at its previous week's level of 329.8 (Provisional).
  • The index for Manufactured Products (weight 63.75 per cent) rose by 0.2 percent to 201.1 (Provisional) from 200.6 (Provisional) for the previous week. The groups and items for which the index showed variations during the week are as follows:
    • The index for 'Food Products' group rose by 1.6 percent to 205.1 (Provisional) from 201.9 (Provisional) for the previous week due to higher prices of canned fish (43%), oil cakes (8%), imported edible oil and coconut oil (7% each), rice bran oil (5%) and gingelly oil, gur and khandsari (1% each). However, the prices of unrefined oil (8%) and groundnut oil (1%) declined.
    • The index for 'Beverages Tobacco & Tobacco Products' group rose by 0.1 percent to 296.8 (Provisional) from 296.6 (Provisional) for the previous week due to marginal increase in prices of the wine industries.
INT
NetIndian
www.netindian.in