Inflation slips to 4.4%

Inflation fell marginally to 4.4 per cent for the week ended April 3, even the prices of fruits and vegetables increased. The rate was 4.47 per cent in the previous week and stood at 6.66 per cent in the year-ago period.

The Wholesale Price Index (WPI) was up at 180.5 points from 172.9 points recorded in the corresponding period last year, mainly because of the surging prices of primary items and fuels, including furnace oil and bitumen.

The government revised the inflation for the week ended February 7 upwards by 24 basis points to 6.15 per cent, compared with the provisional level of 5.91 per cent.

The final WPI also stood corrected at 179.6 points, against the provisional figure of 179.2 points. The index of primary articles' group shot up over one per cent to 183.4 points because of costlier food articles.

It was at 179.1 points in the year-ago period. The food articles' group index surged nearly two per cent to 182.6 points as prices rose for vegetables (20 per cent), poultry chicken (15 per cent), fruits (four per cent), gram (two per cent) and bajra and milk (one per cent each).

However, prices declined in the case of condiments and spices (three per cent), wheat and eggs (two per cent) and mutton, arhar, maize, masur and barley (one per cent each).

The index of non-food articles' group declined 0.2 per cent to 190.5 points due to lower prices for copra, castor seed and groundnut seed (two per cent each) and rape and mustard seed (one per cent). Prices, however, rose for niger seed (five per cent), soyabean and cotton seed (two per cent each) and gingelly seed (one per cent).

The index for fuel, power, light and lubricants continued to rise by another 0.2 per cent for the second consecutive week to 263.7 points because of a three per cent increase in the price of furnace oil and bitumen and one per cent in naphtha and the index was 256.2 points in the year-ago period.

The index of manufactured products' group stood firm at the previous week's level of 161 points despite price rise in food products, beverages, tobacco, textiles, rubber and plastic products, non-metallic mineral and machinery. The index was 152.1 points in the year-ago period.