Inflation rate drops to 3.01 percent

New Delhi, Dec 7: Inflation rate for the week ended November 24 dropped to 3.01 per cent as against 3.21 per cent last week. The annual inflation rate was 5.55 per cent during the corresponding week of the previous year, an official statement said.

''Controlling inflation remains high on the government agenda,'' Union Finance Minister P Chidambaram had said in a statement earlier this week.

He said anti-inflationary policies of the government include strict fiscal and monetary discipline, rationalisation of excise and import duties of essential items so that there is no undue burden on the poor, effective demand-supply management through liberal tariff and trade policies and strengthening the public distribution system.

The wholesale price index (WPI) for 'All Commodities' for the week ended November 24, declined by 0.1 per cent to 215.4 (Provisional) from 215.7 (Provisional) for the previous week.

The index for primary articles declined by 0.7 per cent to 222.7 (Provisional) from 224.3 (Provisionl) for the previous week.

The index for 'Food Articles' group declined by 1.1 per cent to 221.8 (Provisional) from 224.2 (Provisional) for the previous week due to lower prices of fruit and vegetables (five per cent), condiments and spices (two per cent) and jowar, arhar, bajra, fish-marine and urad (one per cent each).

The index for 'Non-Food Articles' group rose by 0.2 per cent to 209 (Provisional) from 208.6 (Provisional) for the previous week due to higher prices of gingelly seed, groundnut seed, cotton seed and raw jute (one per cent each).

However, the prices of castor seed declined by one per cent.

The index for 'Fuel, Power, Light and Lubricants' group remained unchanged at its previous week's level of 326.1 (Provisional).

The index for 'Manufactured Products' group rose by 0.1 per cent to 188.2 (Provisional) from 188.1 (Provisional) for the previous week. The index for 'Food Products' group rose by 0.2 per cent to 192 (Provisional) from 191.6 (Provisional) for the previous week due to higher prices of bran (all kinds) (seven per cent), rice bran oil (four per cent), khandsari (two per cent) and sooji (rawa) and gingelly oil (one per cent each).

However, the prices of sunflower oil, gur and groundnut oil (one per cent each) declined.

The index of 'Textiles' group rose by 0.1 per cent to 132.2 (Provisional) from 132.1 (Provisional) for the previous week due to higher prices of hessian and sacking bags (two per cent) and viscose filament yarn (one per cent).

However, the prices of other cotton yarn (one per cent) declined.

The index for 'Chemicals and Chemical Products' group rose by 0.2 per cent to 204.6 (Provisional) from 204.2 (Provisional) for the previous week due to higher prices of bopp film (eight per cent) and ammonium sulphate n_content (five per cent).

The index for 'Basic Metals Alloys&Metal Products' group declined by 0.1 per cent to 247.2 (Provisional) from 247.4 (Provisional) for the previous week due to lower prices of lead ingots (10 per cent) and zinc ingots (six per cent each).

UNI