Inflation climbs to 7.61per cent

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Mumbai, May 9: Inflation climbs to 7.61 per cent for April 26 week. Inflation soars to 42-month high. Inflation is obove 7 per cent from past four weeks. Inflation is up by 0.4 per cent from last week 7.57 per cent. Price of all commodities up by 1 per cent. The annual inflation rate was 6.01 per cent during the corresponding week of the previous year, a statement said.

The central government is under pressure to contain prices ahead of state polls this year and national elections due by next year. It has cut import duties on edible oil and curbed rice exports along with suspension of futures trading in soybean oil, potatoes, rubber and chickpeas yesterday. Steel manufacturers have also cut prices by Rs 4,000 a tonne on flat products to put a leash on spiralling inflation.

The Wholesale Price Index (WPI) for 'All Commodities' for the week ended April 26 rose by 0.1 per cent to 227.7 (Provisional) from 227.5 (Provisional) for the previous week. The index for 'Primary Food Articles' rose by 0.3 per cent to 238.6 (Provisional) from 237.9 (Provisional) for the previous week.

The index for the 'Food Articles' group rose by 0.5 per cent to 230.4 (Provisional) from 229.3 for the previous week due to higher prices of tea (11 per cent), condiments and spices (three per cent), fish marine (two per cent) and fruits and vegetables (one per cent).

However, the prices of urad (three per cent), arhar (two per cent) and eggs (one per cent) declined. The index for 'Non-Food Articles' group declined by 0.2 per cent to 228.2 (Provisional) from 228.6 (Provisional) for the previous week due to lower prices of rape and mustard seed (four per cent), fodder and castor seed (two per cent each).

However, the prices of niger seed (two per cent) and groundnut seed and linseed (one per cent each) moved up. The index for 'Fuel, Power, Light and Lubricants' group remained unchaged at its previous week's level of 342.5 (Provisional).


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