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Cheaper raw cotton, cotton seed push inflation to 4.02 pc

Written by: Staff
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New Delhi, Feb 26 (UNI) The annual rate of inflation, calculated on point to point basis, fell marginally to 4.02 per cent for the week ended February 11, against 4.08 per cent for the previous week mainly due to lower prices of raw cotton, cotton seed and groundnut seed.

The inflation rate was 5.12 per cent during the corresponding period of last year, according to official figures released here today.

The Wholesale Price Index (WPI) for all commodities rose by 0.2 per cent to 196.6 from 196.2 for the previous week.

The final WPI for all commodities for the week ended December 17, 2005, stood unaltered at the provisional week's level of 197.1, while the inflation rate stood unchanged at 4.62 per cent for the same week.

Since October 2005, inflation on account of manufactured goods, has been hovering around the 3 per cent mark. Except textiles, all other constituents within this group have been indicating an upward trend.

The price index of primary articles has been on the rise since August 2005.

High oil prices globally, are mainly responsible for the persistent 9 per cent or more inflation in the energy component of the WPI.

The index for the primary articles group rose by 0.5 per cent to 194.3 from 193.3 for the previous week. The index for the food articles group rose by 0.9 per cent to 196.9 from 195.1 for the previous week due to higher prices of milk (3 per cent) and arhar, maize, wheat, fruits and vegetables, barley, ragi and bajra (1 per cent each).

However, the prices of gram (2 per cent) and eggs and rice (1 per cent each) declined.

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