| Rising food prices nudge inflation up to 4.4% |
| BS Reporter / New Delhi July 27, 2007 |
| Driven largely by increase in prices of primary articles like fruits and vegetables, wheat and raw cotton, inflation based on the wholesale price index rose to 4.41% for the week ended July 14, 2007 when compared with 4.27% for the previous week. Inflation rate stood at 4.62% on July 15 last year. The index for primary articles rose by 0.7%. The prices of food articles and non-food articles rose by 0.8% and 0.4% respectively during the week. However, the prices of sugar, jaggery and gingelly oil declined by 1% Also, prices of fish-marine and urad declined by 2% and 1% respectively. According to agency reports, though inflation figures will have a bearing on the measures to be announced by the RBI to regulate money supply, analysts expect inflation to remain within control and there's little chance of the RBI going for a rate hike. Indices for the groups of manufactured products and fuel remained unchanged at its previous week |
