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Higher prices of food, manufactured products push inflation to 4.92%

Written by: Staff
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New Delhi, Aug 25 (UNI) The annual rate of inflation rose to 4.92 per cent for the week ended August 12, as compared to 4.82 per cent the previous week on account of increase in food, manufactured product prices.

The inflation rate, calculated on point-to-point basis, stood at 3.67 per cent during the corresponding week of the previous year, according to official figures released here today.

Finance Minister P Chidambaram today said inflation rate will remain below 5 per cent in the financial year 2006-07, to ensure ample liquidity to keep interest softer.

The Wholesale Price Index (WPI) for all commodities for the week ended August 12, 2006, rose by 0.2 per cent to 204.7 from 204.3 for the previous week.

The index for the Primary Articles group rose by 0.5 per cent to 203.6 from 202.5 for the previous week.

The index for Food Articles group rose by 0.5 per cent to 204.8 from 203.7 for the previous week due to higher prices of fruits and vegetables (2 per cent) and condiments and spices (1 per cent).

However, the prices of poultry chicken (2 per cent) and masur (1 per cent) declined.

The index for Non-Food Articles group also rose by 0.5 per cent to 184.7 from 183.8 for the previous week due to higher prices of raw rubber (6 per cent), niger seed (5 per cent) and raw cotton and groundnut seed (1 per cent each).

However, the prices of raw silk (7 per cent), raw jute (5 per cent) and soyabean (1 per cent) declined.

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