Inflation surges to 7 per cent

Subscribe to Oneindia News

New Delhi, Apr 6: The headline inflation rate for the week ended March 22 surged to a three year high at seven per cent, compared to its previous week's level of 6.68 per cent, on account of higher food and metal prices. The annual inflation rate was 6.54 per cent during the corresponding week of the previous year, an official statement said. The Finance Minister, during the week, had been reiterating the government's efforts of keeping the inflation rates under control.

The wholesale price index for 'All Commodities' for the week ended March 22, rose by 0.5 per cent to 224.8 (Provisional) from 223.6 (Provisional) for the previous week. The index for 'Primary Articles' rose by 1.8 per cent to 234.6 (Provisional) from 230.5 (Provisional) for the previous week. The index for 'Food Articles' group rose by 0.1 per cent to 226.2 (Provisional) from 225.9 (Provisional) for the previous week due to higher prices of gram (three per cent), masur (two per cent) and fruits and vegetables, urad and moong (one per cent each).

However, the prices of fish-marine (four per cent) and condiments and spices (two per cent) declined. The index for 'Non-Food Articles' group rose by 0.4 per cent to 227.3 (Provisional) from 226.3 (Provisional) for the previous week due to higher prices of gingelly seed and rape and mustard seed (five per cent each) and linseed (three per cent).

However, the prices of copra (two per cent) and groundnut seed and fodder (one per cent each) declined. The index for 'Minerals' group rose by 38.2 per cent to 594.8 (Provisional) from 430.5 (Provisional) for the previous week due to higher prices of iron ore (46 per cent).

The index for 'Fuel, Power, Light and Lubricants' group rose by 0.1 per cent to 341.4 (Provisional) from 341.0 (Provisional) for the previous week due to higher prices of furnace oil (two per cent).

UNI

Please Wait while comments are loading...