Inflation Rate Rises To 5.81 Per Cent
The annual rate of inflation climbed up by 0.03 percentage point to 5.81 per cent for the week ended January 24, despite a slight improvement in the prices of food articles. The inflation, based on the wholesale price index (WPI), rose to 5.81 per cent (provisional) compared to 5.78 per cent (P) the week before and 7.53 per cent in the corresponding week of last year. The latest week saw a marked improvement in the prices of food articles and food products, which have been on the rise for last few weeks due to the unusual behaviour of the South-west monsoon and the cold wave sweeping the north. The price of vegetables, which rose by 16.62 per cent in the previous five weeks, came down by 3.2 per cent in the week under reference. PTI
The index for all commodities (base:1981-82=100) during the week stood at 338.5 (p), up 0.1 per cent from 338.3 (P) in the previous week.
Inflation based on final index stood at 4.4 per cent for the week ended November 29 (the latest available) against 4.0 per cent on the provisional index.
The final index for all commodities for the week was 332.4 compared to 331.0 based on the provisional index.
As against inflation based on WPI, the rate of increase in price rise based on consumer price index for industrial workers (CPI-IW) for December rose to 6.3 per cent from 4.9 per cent in the previous month.
Among the components of WPI, the increase on an annual basis has been maximum in sugar, khandsari and gur (23.29 per cent), electricity (17.15 per cent), vegetables (12.69 per cent), mineral oils (11.85 per cent) and pulses (10.36 per cent).
Interestingly, during the year the prices of cereals and grain mill products declined by 0.19 per cent and 4.14 per cent respectively.
During the week under reference, the items which witnessed substantial price fluctuation were; electric motors (up 9 per cent), wood products (up 8 per cent), condiments and spices and lac (up 3 per cent each),
hurricane lanterns (down 20 per cent) and fruits, vegetables, eggs and gur (down 3 per cent).
Of the three major groups, indices of primary articles moved down, manufactured products moved up and fuel, power, light and lubricants remained unchanged.
Index for primary articles declined by 0.2 per cent to 354.9 from 355.6 due to a fall in the index of food articles.
The index for the sub-group was down by 0.5 per cent to 408.0 from 410.1 during the week.
Among food articles prices of condiments and spices (3 per cent), milk (2 per cent), jowar, barley, ragi and fish (1 per cent each) went up, while that of fruits, vegetables and eggs (3 per cent each), wheat, bajra and pork (2 per cent each) and masur (1 per cent) eased during the week.
Index for non-food articles increased by 0.3 per cent to 353.3 from 352.2 as prices of lac (3 per cent), raw cotton (2 per cent) and rape and mustard seed, copra, gingelly seed and castor seed (1 per cent each) became dearer.
However, during the week price of coir fibre (3 per cent) went up.
Fuel, power, light and lubricantss group remained unchanged for the ninth consecutive week with the index at 377.4.
The third major group manufactured products rose by 0.2 per cent to 321.9 from 321.2 for the previous week.
The index for food products from the group declined by 0.6 per cent to 326.9 from 328.9 due to fall in prices of gur (3 per cent), suji, atta and gingelly oil (1 per cent each).
From the sub-group, price of coconut oil (1 per cent) rose.
Index for textiles rose marginally to 314.3 from 314.2 due to a marginal increase in price of jute manufactures.
Index for wood and wood products shot up by 8.4 per cent to 596.9 from 550.8.
For basic metals, alloys and metal products, index declined marginally to 350.0 from 350.1 due to sharp fall in prices of hurricane lanterns (20 per cent).
Index for machinery and machine tools rose by 0.2 per cent to 300.6 from 300.0 due to higher prices of electric motors (9 per cent) and mining machinery (2 per cent).
Price of alternators (1 per cent) became cheaper during the week.
Indices for all other groups remained unchanged at the respective previous weeks levels.