Inflation fell to 40-months low of 4.83% during the week ended February 26 due to cheaper edible oils, vegetables and some of the manufactured products despite higher global oil prices. The pre-budget Economic Survey, which had said goverment was able to contain price rise, the wholesale price index (WPI) inflation fell by 0.18% from a week ago level of 5.01%.The general price level stood as high as 6.00% in the previous year period.However, WPI remained unchanged at 188.8 points despite costlier primary items and cheaper manufactured products, even as fuel prices stood firm for the second consecutive week, notwithstanding, violent gyrations in the world oil prices that hovered $47-48 a barrel.The wholesale price index was 180.1 points a year-ago period.Government revised upwards the point-to-point inflation to 6.56% during the week ended December 25 last as compared to the provisional level of 6.39%.The final WPI during December-end stood corrected at 188.5 points as against the provisional level of 188.2 points.The index of primary articles' group was up by 0.2% to 185.8 points due to rise in the prices of both food and non-food articles. The index was 183.1 points a year ago.Food articles' group index rose by 0.2 per cent to 185.2 points due to higher prices of coffee (22%), fish-marine (3%), bajra (2%) and tea, fruits, condiments and spices, jowar, moong and urad (1% each). But, vegetables became cheaper by 0.6%.Non-food articles' group index was up by 0.4% to 180.6 points owing to higher prices of soyabean (5%), raw silk (3%), gingelly seed and raw jute (2%), sunflower and linseed (1% each).But prices went down in the cases of safflower (4%), castor seed and fodder (2%) and niger seed and cotton seed (1% each).The index for fuel, power, light and lubricants group remained unchanged for the second consecutive week, at the previous week's level of 288.9 points. The index was 261.7 points in the period year ago.During the week in review, world oil prices remained high between $47-48 a barrel as fears that the organisation of petroleum exporting countries (Opec) might cut production outweighed strong us inventories data and a cold wave hitting the US northeast.The heavy-weighted manufactured products' group declined by 0.1% to 167.5 points due to fall in textile, rubber basic metals, machinery prices while chemicals, non-metallic mineral and transport equipments became costlier. The index stood at 160.8 points a year ago.
