Inflation climbs to a new high of 11.63 per cent

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New Delhi, Jul 4: Inflation for the week ending June 21 climbed to a 13 years high of 11.63 pc from 11.42 pc. Finance Minister P Chidamabaram said that inflation will climb to 13 percent in near term. Reserve Bank of India(RBI) had hiked lending rate to 0.75 pc last weeek to check inflation.

BJP president Rajnath Singh on June 29, Sunday has alleged that the UPA government at the Centre was trying to fool the people by attributing the surging inflation rate to the hike of oil prices in the international market. Rajnath warned that if the government did not take proper steps, inflation would soar up to 15 per cent.

According to Wholesale Price Index (WPI) data released here, the annual inflation rate was 4.32 per cent during the corresponding week of the previous year. The WPI for 'All Commodities' for the week ended June 21 rose by 0.4 per cent to 237.1 (Provisional) from 236.1 (Provisional) for the previous week.

The index for 'Primary Articles' group rose by 0.5 per cent to 244.3 (Provisional) from 243.0 (Provisional) for the previous week.

The index for 'Food Articles' group rose by 0.6 per cent to 233.6 (Provisional) from 232.1 (Provisional) for the previous week due to higher prices of tea (four per cent), fruits and vegitables, maize, bajra and fish-marine (two per cent each) and urad, moong, condiments and spices and jowar (one per cent each).

The index for 'Non-Food Articles' group rose by 0.4 per cent to 238.9 (Provisional) from 238.0 (Provisional) for the previous week due to higher prices of tanning materials (four per cent), copra (three per cent) and raw cotton, caster seed and rape and mustard seed (one per cent each).

However, the prices of fodder (one per cent) declined.

The index for 'Fuel, Power, Light and Lubricants' group declined by 0.1 per cent to 374.4 (Provisional) from 374.7 (Provisional) for the previous week due to lower prices of furnace oil (two per cent).

The index for 'Manufactured Products' group rose by 0.5 per cent to 203.9 (Provisional) from 202.8 (Provisional) for the previous week.

The index for 'Food Products' group rose by 0.9 per cent to 210.6 (Provisional) from 208.8 (Provisional) for the previous week due to higher prices of unrefined oil (eight per cent), cotton seed oil and rice bran oil (five per cent each), oilcakes (three per cent), and gingelly oil and imported edible oil (one per cent each).

However, the prices of atta (two per cent) declined.

The index for 'Textiles' group rose by 0.6 per cent to 136.2 (Provisional) from 135.4 (Provisional) for the previous week due to higher prices of texturised yarn (nine per cent), tyre cord (seven per cent), synthetic yarn (three per cent), and dhoties, sarees and voils and hessian cloth (one per cent each).

However, the prices of hessian and sacking bags (one per cent) declined. The index for 'Chemicals and Chemicals Products' group rose by 0.6 per cent to 218.3 (Provisional) from 217.0 (Provisional) for the previous week due to higher prices of ayurvedic medicine liquids (nine per cent), phenol (eight per cent), carbon black and tablets except vitamin and penicillin (four per cent each) and liquid oral other than vitamins (one per cent).

However, the prices of vitamin tablets (a,b,c,d and others) (one per cent) declined.

The index for 'Non-Metallic Mineral Products' group rose by 0.1 per cent to 213.6 (Provisional) from 213.4 (provisional) for the previous week due to marginal rise in the prices of cement.

The index for 'Basic Metals, Alloys and Metal Products' group rose by 0.8 per cent to 299.1 (Provisional) from 296.8 (Provisional) for the previous week due to higher prices of basic pig iron and foundary pig iron (eight per cent each), steel sheets, plates and strips (six per cent), ms bars and rounds (three per cent), and other iron steel (two per cent).

The index for 'Machinery and Machine Tools' group rose by 0.2 per cent to 173.9 (Provisional) from 173.6 (Provisional) for the previous week due to higher prices of components and accessories of swith gears (10 per cent), dry cell (four per cent) and other pumps (two per cent).

The index for 'Transport Equipment and Parts' group declined by 0.1 per cent to 173.9 (Provisional) from 174.0 (Provisional) for the previous week due to lower prices of car chassis (assembled) (one per cent).

However, the prices of bicycles (one per cent) moved up.

UNI

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