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Inflation increases to 5.12 per cent
New Delhi, Nov 30: Triggered by a rise in the prices oftextiles, minerals, electricity and edibles, the annual rate ofinflation rose to 5.12 per cent for the week ended November 15compared to 4.88 per cent for the previous week.
It was 3.39 per cent during the same period last year.
The rate is higher than the prediction made by the RBI in its mid-term credit policy. The central bank has
predicted the rate to be between 4-4.5 per cent this fiscal.
The wholesale price index (base 1993-94) rose by 0.2 per cent to
176.5 from its previous week`s level of 176.1 per cent.
The indices for manufactured products and fuel, power, light and
lubricants rose to 156.8 and 253.6, respectively.
The index for food products group rose by 0.4 per cent to 165.1
due to higher prices of oil cakes and coconut oil (2 per cent each)
and rape and mustard oil and imported edible oil (1 per cent each).
However, the prices of gur (7 per cent), and groundnut oil and ghee
(1 per cent each) declined.
The index for textile group rose by 1.4 per cent to 133.7 from
131.9 due to higher prices of woollen yarn (8 per cent), cotton
yarn-hanks (6 per cent), and polyester staple fibre (2 per cent).
Due to increase in the prices of enamelled copper wires (4 per
cent), the index for machinery and machine tools group rose by 0.1
per cent to 133.
Higher prices of acids and hair oil (5 per cent each), liquid
chlorine (3 per cent) and caustic soda (1 per cent) resulted in a
marginal increase in the index for chemicals and chemical products
group to 176.6.
The index for non-metallic mineral products group rose by one per
cent to 147.9 due to higher prices building bricks and cement (2 per
cent each).
Higher prices of other aluminium material and brass sheets and
strips (4 per cent each), aluminium bars and rods (3 per cent), zinc
(2 per cent) and aluminium ingots and aluminium sheets and strips
(1 per cent each) resulted in 0.1 per cent increase in index for
basic metal alloys and metal products to 171.2.
The index for primary articles was up by 0.1 per cent to 183.7 as
the index for food articles remained intact at its previous week`s
level of 186.
However, the items for which the index showed variations during
the week included arhar ("4 per cent ), maize ("2 per cent), fruits
and vegetables, eggs and pork ("1 per cent), tea (-5 per cent),
moong and fish marine (-2 per cent each) and bajra, ragi, masur and
condiments and spices (-1 per cent each).
The index for non-food articles group surged by 0.3 per cent
to 183 due to higher prices of gingelly seed (8 per cent), raw silk
(3 per cent), linseed, castor seed, rape and mustard seed and raw
jute (2 per cent each) and copra (1 per cent). However, the prices
of fodder (3 per cent) and cotton seed, tobacco and safflower fell
by a per cent each.
The index for mineral group rose by 1 per cent to 117.4 from
116.2 for the previous week due to higher prices of chromite (19 per
cent), fire clay (16 per cent) and magnesite (7 per cent). However,
the prices of steatite declined by 18 per cent.
Marginal increase in the prices of electricity has resulted in
the index for fuel, power, light and electricity rising to 253.6
from 253.3 for the previous week.
The final inflation rate for the week ended +september 20 stood
at 5.02 per cent against 4.72 (provisional) and the final wholesale
price index during the week stood at 175.6 against 175.1
(provisional).
Bureau Report