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Inflation falls below five pc mark
New Delhi, June 29: Soaring prices of fruits, edible oils and vegetables notwithstanding, inflation continued its fall by yet another 0.08 per cent to tick below five per cent mark for the week ended June 14.
New Delhi, June 29: Soaring prices of fruits, edible oils and vegetables notwithstanding, inflation continued its fall by yet another 0.08 per cent to tick below five per cent mark for the week ended June 14.
Interestingly, the wholesale price index (WPI) inflation fell to 4.97 per cent despite costlier primary products, fuel and manufactured items, indicating that the public continued to bear the brunt of rising cost of living. The index was only 2.48 per cent in the year ago period.
WPI, however, rose by 0.3 per cent to 173.2 points during the latest reported week as prices shot up for food articles and products, non-food articles, minerals, paper, transport equipment, basic metals and machinery. The index was 165 in the previous year period.
The final WPI stood at 172.9 for the week ended April 19 as compared to the provisional figure of 172.3 and the final point-to-point inflation was 6.53 per cent against provisional mark of 6.16 per cent.
The index for primary articles' group shot up by 1.2 per cent to 183.2 points owing to sharp hike in the price of food articles and minerals and moderate price increase in non-food items and the index was 172.4 a year-ago period.
Food articles' group index spurted by around two per cent to 184.8 owing to higher prices for vegetables (11 per cent), fruits (six per cent) and ragi, gram and eggs (one per cent), despite one per cent fall in the price of maize and bajra. The index for non-food articles' group was up by 0.2 per cent to 184.3 due to costlier for raw wool (six per cent) and raw cotton, groundnut seed and linseed (one per cent each).
However, price rose for raw skins (four per cent), fodder and sunflower (three per cent each), raw hides (two per cent) and cotton seed and casto seed (one per cent each).
The index for minerals' group rose by near one per cent to 119.3 points, while the index for fuel, power, light and lubricants' group rose to 246.1 points.
In the international market, prices of oil fell due to Opec's decision not to cut production till July and amidst a study by Paris-based international energy agency revising up the oil reserve estimates of the developed nations.
The index for manufactured products' group, which is the heaviest in the WPI product basket, was up by 0.1 per cent to 153.4 even as prices dipped for beverages tobacco, textiles, chemicals and non-metallic mineral products and the index was 147 points a year-ago period. Food products' group index rose by 0.4 per cent to 162.9 due to higher prices for gur and solvent extracted groundnut oil (two per cent each) and maida, coconut oil, rice bran oil, unrefined oil and oil cakes (one per cent each), even as there was price fall in gingelly oil (three per cent), salt (two per cent) and all kinds of bran (one per cent).
The index for paper and paper products' group was up by 0.2 per cent to 174.3 on account of three per cent increase in the price of all kinds of other boards.
Rubber and plastic products' group index shot up by 1.6 per cent to 134 owing 17 per cent hike in the price of cycle tyres and 14 per cent in cycle tubes.
The index for basic metals, alloys and mineral products' group rose by 0.1 per cent due to costlier angles, channels and sections (five per cent) and zinc and bolts and nuts (one per cent each).
Machinery and machiner tools' group index rose by 0.1 per cent to 131.8 due to one per cent price increase in complete tractors, even as there was one per cent fall in the price of ball bearings.
The index for transport equipment and parts' group was up by 0.1 per cent to 146.8 owing to four per cent price rise in body manufactured for buses and one per cent in bicycles.
Beverages tobacco and tobacco products' group index fell by 0.1 per cent to 203.6 due to 12 per cent price dip in all kinds of soft drinks.
Textiles' group index fell by 0.6 per cent to 126.6 owing to cheaper woolen yarn (12 per cent), polyster staple fibre (six per cent), synthetic yarn (four per cent), tyre cord fabric (three per cent) and texturised yarn (one per cent).
The indices for chemicals and chemical products' and non-metallic mineral products' groups fell by 0.1 per cent to 177.4 and 146.6 points due to lower prices for phenol (six per cent), acids (two per cent), liquid chlorine (one per cent) and marginal price decline in cement respectively. Bureau Report
WPI, however, rose by 0.3 per cent to 173.2 points during the latest reported week as prices shot up for food articles and products, non-food articles, minerals, paper, transport equipment, basic metals and machinery. The index was 165 in the previous year period.
The final WPI stood at 172.9 for the week ended April 19 as compared to the provisional figure of 172.3 and the final point-to-point inflation was 6.53 per cent against provisional mark of 6.16 per cent.
The index for primary articles' group shot up by 1.2 per cent to 183.2 points owing to sharp hike in the price of food articles and minerals and moderate price increase in non-food items and the index was 172.4 a year-ago period.
Food articles' group index spurted by around two per cent to 184.8 owing to higher prices for vegetables (11 per cent), fruits (six per cent) and ragi, gram and eggs (one per cent), despite one per cent fall in the price of maize and bajra. The index for non-food articles' group was up by 0.2 per cent to 184.3 due to costlier for raw wool (six per cent) and raw cotton, groundnut seed and linseed (one per cent each).
However, price rose for raw skins (four per cent), fodder and sunflower (three per cent each), raw hides (two per cent) and cotton seed and casto seed (one per cent each).
The index for minerals' group rose by near one per cent to 119.3 points, while the index for fuel, power, light and lubricants' group rose to 246.1 points.
In the international market, prices of oil fell due to Opec's decision not to cut production till July and amidst a study by Paris-based international energy agency revising up the oil reserve estimates of the developed nations.
The index for manufactured products' group, which is the heaviest in the WPI product basket, was up by 0.1 per cent to 153.4 even as prices dipped for beverages tobacco, textiles, chemicals and non-metallic mineral products and the index was 147 points a year-ago period. Food products' group index rose by 0.4 per cent to 162.9 due to higher prices for gur and solvent extracted groundnut oil (two per cent each) and maida, coconut oil, rice bran oil, unrefined oil and oil cakes (one per cent each), even as there was price fall in gingelly oil (three per cent), salt (two per cent) and all kinds of bran (one per cent).
The index for paper and paper products' group was up by 0.2 per cent to 174.3 on account of three per cent increase in the price of all kinds of other boards.
Rubber and plastic products' group index shot up by 1.6 per cent to 134 owing 17 per cent hike in the price of cycle tyres and 14 per cent in cycle tubes.
The index for basic metals, alloys and mineral products' group rose by 0.1 per cent due to costlier angles, channels and sections (five per cent) and zinc and bolts and nuts (one per cent each).
Machinery and machiner tools' group index rose by 0.1 per cent to 131.8 due to one per cent price increase in complete tractors, even as there was one per cent fall in the price of ball bearings.
The index for transport equipment and parts' group was up by 0.1 per cent to 146.8 owing to four per cent price rise in body manufactured for buses and one per cent in bicycles.
Beverages tobacco and tobacco products' group index fell by 0.1 per cent to 203.6 due to 12 per cent price dip in all kinds of soft drinks.
Textiles' group index fell by 0.6 per cent to 126.6 owing to cheaper woolen yarn (12 per cent), polyster staple fibre (six per cent), synthetic yarn (four per cent), tyre cord fabric (three per cent) and texturised yarn (one per cent).
The indices for chemicals and chemical products' and non-metallic mineral products' groups fell by 0.1 per cent to 177.4 and 146.6 points due to lower prices for phenol (six per cent), acids (two per cent), liquid chlorine (one per cent) and marginal price decline in cement respectively. Bureau Report