Inflation shoots up to 7.27 per cent

Inflation shoots up to 7.27 per cent
PRESS TRUST OF INDIA

NOV 19: Continuing its upward trend, the annual inflation rate increased by 0.35 percentage points to 7.27 per cent for the week ended November 4, due to the rise in fuel prices.

The point-to-point inflation rate based on the wholesale price index (WPI) for all commodities (Base: 1993-94 = 100) rose from the previous week's level of 6.92 per cent and 3.23 per cent a year ago.

The WPI was up 0.1 per cent to 157.9 from the previous week's figure of 157.7 and 147.2 a year ago. The final WPI during the second week of September stood at 154.1 as against the provisional figure of 153.5.

The final inflation rate for the week ended September 9 was at 6.13 per cent as against the provisional level of 5.72 per cent.

Fuel became costlier by 0.5 per cent while the index for primary articles and manufactured products stood firm at their previous week's level.

The index for primary articles' group stood firm at the previous week's level of 164, although there was 0.3 per cent increase in the prices of food articles. The index stood at 161.4 a year ago.

The index for food articles group rose to 174.1 from the previous week's figure of 173.5 due to costlier gram (two per cent), rice, maize, barley, urad, fruits and vegetables, eggs, and condiments and spices (one per cent each).

However, there was decline in the prices of arhar (3 per cent), bajra (2 per cent) and pork (1 per cent).

The index for non-food articles' group declined sharply by one per cent due to a whopping fall of 23 per cent in the price of sunflower and a moderate fall of three per cent each in the prices of groundnut seed and raw rubber.

But raw silk and raw jute became costlier by two per cent each and kardi seed by one per cent.

The index for fuel, power, light and lubricants' group continued its rise by adding yet another 0.5 per cent to 220.2 from 219 in previous week, due to one per cent rise in the price of mineral oils.