The wholesale price index based annual rate of inflation rose to 12.01 per cent, prompting the Finance Ministry to say that inflation, on a week-on-week basis, has continued to remain stable.
The WPI moved up from 239.3 in the week ending July 19, 2008, when it stood at 11.98 per cent, to 239.6 in the week ending July 26, 2008.
In the ‘primary articles’ group, the annual point-to-point inflation increased to 10.32 per cent, as compared to 10.24 per cent reported last week, but lower than 10.84 per cent reported for the week ending June 28, 2008. The Finance Ministry said inflation at its current level was lower than its level of 10.47 per cent, a year back.
Out of a total of 98 articles, 18 articles have shown a decline in prices as compared to July 19, 2008. These included among others, arhar, gram, barley, wheat, rice, Bajra, urad, fresh coconut, cardamoms, groundnut seed and iron ore. Another 53 articles have shown no increase in prices.
Prices of 18 articles (out of a total of 19) in commodity group ‘fuel and power’ have not shown any increase.
In the case of ‘manufactured products’, out of a total 318 commodities, a large number, 299 in all, have shown no increase in prices over the last week. In the case of 4 commodities there is a decline in prices. These commodities include cottonseed oil, groundnut oil, resins and acids of all kinds.
Only 15 products, particularly the cotton and woolen yarn, woolen cloth, groundnut cake, white printing paper, ball bearings, caustic soda, cement, newsprint and sugar witnessed an increase in prices.
More From This Section
The annual inflation rate for the group of 30 essential commodities at 6.66 per cent was marginally lower than the inflation of 6.67 per cent recorded in previous week.
Annual inflation of these commodities has continued to be range bound between 5.7 to 6.7 per cent in 17 weeks of the current fiscal year.
Increase in prices of essential commodities which include food grains, pulses, edible oils, vegetables, dairy products and some other commodities including kerosene, soap and safety matches have more or less stabilised.”