Inflation at 10.68%

India’s headline inflation, as measured by wholesale price index (WPI), stood at 10.68% for the week ended October 18 this year, as compared to 11.07% for the previous week. The annual rate of inflation was at 3.11% a year- ago.

The three major commodities group showed a decline in the week ended October 18, 2008.

Inflation rate for primary articles group declined to 10.92% cent in the reporting week as against 11.53% a week-ago, because of lower prices of wheat and arhar and urad.

However, the index for food articles rose by 0.2% on for the week ended October 18, 2008 because of higher prices of bajra, maize, jowar and fruits & vegetables.

The index for Manufactured products, which has more than 63% weightage in the WPI, declined by 0.1% in the reported week.

Lower prices of imported edible oil, oilcakes, rice bran oil, gingelly oil and groundnut oil contributed to the fall in index number for this group.

Inflation for the week ended September 5 this year was revised upwards to 12.76% as against an earlier provisional rate of 12.34%.