Inflation hits new high of 7.57 per cent

Published: Friday, May 2, 2008, 13:05 [IST]
 

New Delhi, May 2: The headline inflation rate for the week ended April 19 surged to three-and-a-half-year high at 7.57 per cent as compared to 7.33 per cent for the previous week. The annual inflation rate was 6.07 per cent during the corresponding week of the previous year, a statement said. The Reserve Bank of India, on Tuesday, had announced 25 basis points hike in the cash reserve ratio as part of its inflation combating drive.

The Wholesale Price Index (WPI) for 'All Commodities' for the week ended April 19 rose by 0.3 per cent to 227.5 (Provisional) from 226.9 (Provisional) for the previous week. The index for 'Primary Food Articles' rose by 0.3 per cent to 237.9 (Provisional) from 237.1 (Provisional) for the previous week.

The index for the 'Food Articles' group rose by 0.3 per cent to 229.3 (Provisional) from 228.6 for the previous week due to higher prices of tea (17 per cent), mutton (two per cent) and milk and rice (one per cent each). However, the prices of gram and urad (one per cent each) and barley (two per cent) declined.

The index for 'Non-Food Articles' group rose by 0.6 per cent to 228.6 (Provisional) from 227.3 (Provisional) for the previous week due to higher prices of raw cotton (two per cent), groundnut seed and castor seed (one per cent each).

However, the prices of sunflower (three per cent) and niger seed (two per cent) declined.

The index for 'Fuel, Power, Light and Lubricants' group rose by 0.1 per cent to 342.5 (Provisional) from 342.1 (Provisional) for the previous week due to higher prices of light diesel oil (two per cent) and furnance oil (one per cent).

The index for 'Manufactured Products' group rose by 0.4 per cent to 198.3 (Provisional) from 197.6 (Provisional) for the previous week. The index for 'Chemicals and Chemicals Products' group rose by 0.5 per cent to 211.1 (Provisional) from 210.0 (Provisional) for the previous week due to higher prices of acid (all kinds) (ten per cent) and bopp film (two per cent).

The index for 'Basic Metals, Alloys and Metal Products' group rose by 1.1 per cent to 296.8 (Provisional) from 293.5 (Provisional) for the previous week due to higher prices of cast iron spun pipes (51 per cent), basic pig iron and foundary pig iron (eight per cent each), aluminium ingots (three per cent) and steel sheets, plates and strips (two per cent).

However, the prices of other iron steel (four per cent), lead ingots (two per cent) and zinc ingots (one per cent) declined.

The index for 'Machinery and Machine Tools' group rose by 0.3 per cent to 170.4 (Provisional) from 169.9 (Provisional) for the previous week due to higher prices of boilers, its parts and accessories (nine per cent).

However, the prices of powerlooms automatic (seven per cent) and carding machine (one per cent) declined.

UNI

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