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Inflation slips marginally to 6.14 per cent
BS Economy Bureau in New Delhi |
May 12, 2003 17:10 IST
Inflation stood at 6.14 per cent for the week ended April 26 compared to 1.75 per cent in the same period in the previous year.
The point-to-point wholesale price index inflation fell 0.02 per cent from the previous week's level of 6.16 per cent. Fuel prices stood firm while prices of fruits went up over 3 per cent.
The WPI, however, rose 0.3 per cent to 172.8 points in the latest reported week against 162.8 points in the previous year as prices of primary articles and manufactured products went up.
The final WPI stood corrected at 170.9 points for the week ended March 1 as compared to the provisional level of 169.6. Final inflation was 5.49 per cent against the provisional mark of 4.69 per cent.
A marginal to sharp increase in the prices of food and non-food articles pushed up the index for the primary articles' group 0.4 per cent to 179.7 points as compared to 169.9 points last year.
The index for food articles rose 0.2 per cent to 179.8 points on account of costlier fruits and gram, while barley prices fell 3 per cent, bajra (2 per cent) and fish-marine items (1 per cent).
Higher prices of kardi seed and raw rubber, which went up 5 per cent, and soyabean, which saw a 4 per cent increase, pushed the non-food articles' index up 0.7 per cent to 184.2 points.
The prices of raw silk, rape and mustard seed were up 3 per cent, while those of raw cotton, cotton seed and castor seed went up 1 per cent each. Fodder, coir and copra also suffered losses.
The index for the fuel, power, light and lubricants' group stood firm at the previous week's 251.9 points though there was a one rupee fall in the prices of diesel and petrol. The index was 230.4 points last year.
Belying industry expectations, the index for manufactured products rose 0.3 per cent to 152.7 points, despite a 14 per cent cut in naphtha price in the previous week. The index was 145.2 a year ago.
Manufactured products, that carry the maximum weightage in the WPI basket, became costlier mainly on higher prices of food products, textiles, chemicals, non-metallic mineral products, machinery and transport equipment.
The index for the food products group shot up over 1 per cent to 161.3 points due to higher prices of oil cakes which went up 6 per cent, gur (3 per cent), solvent extracted groundnut oil (2 per cent) and all kinds of bran and rice bran oils which went up 1 per cent each.
There was, however, a 2 per cent price decline in the case of sooji-rawa and 1 per cent each in case of maida, atta and soyabean oil.
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