Inflation declines merginally to 4.91 per cent

New Delhi, Sept 3: The annual rate of inflation has declined marginally by 0.01 per cent to 4.91 per cent for the week ended August 19, as compared to 4.92 per cent the previous week, owing to lower manufactured products and fuel prices.

The inflation rate, calculated on point-to-point basis, stood at 3.71 per cent during the corresponding week of the previous year, according to official figures released here.

The government is taking steps to contain the inflation rate below five per cent in the financial year 2006-07.

The Wholesale Price Index (WPI) for all commodities for the week ended August 19, 2006, rose by 0.2 per cent to 205.1 from 204.7 last week.

The index for the Primary Articles group rose by 0.7 per cent to 205.0 from 203.6 for the previous week.

The index for Food Articles group rose by 0.7 per cent to 206.2 from 204.8 for the previous week due to higher prices of fruits and vegetables and wheat (2 per cent each) and gram, milk, condiments and spices, bajra and maize (1 per cent each).

However, the prices of poultry chicken (9 per cent) declined.

The index for Non-Food Articles group rose by 0.6 per cent to 185.9 from 184.7 for the previous week due to higher prices of raw cotton (4 per cent), copra (2 per cent) and rape and mustard seed (1 per cent).

However, the prices of raw rubber (3 per cent), cotton seed and castor seed (2 per cent) and gingelly seed (1 per cent) declined.

The index for Minerals group rose by 1.1 per cent to 407.1 from 402.8 for the previous week due to higher prices of manganese ore (42 per cent), steatite (28 per cent), fire clay (21 per cent), magnesite (3 per cent), and kaolin (china clay) (1 per cent). The index for Fuel, Power, Light and Lubricants group declined marginally to 328.3 from 328.4 for the previous week due to lower prices of furnace oil.

The index for Manufactured Products group rose by 0.2 per cent to 177.7 from 177.4 for the previous week.

The index for Food Products group declined by 0.3 per cent to 180.3 from 180.8 for the previous week due to lower prices of imported edible oil (5 per cent), oil cakes (3 per cent), and rice bran oil (2 per cent).

However, the prices of bread and buns (10 per cent) and hydrogenated vanaspati, coconut oil and rape and mustard oil (1 per cent each) moved up.

The index for Textiles group rose by 0.2 per cent to 131.4 from 131.1 for the previous week due to higher prices of viscose staple fibre (3 per cent) and hessian cloth (1 per cent).

However, the prices of tyre cord fabric (1 per cent) declined.

The index for Chemicals and Chemical Products group rose by 0.1 per cent to 195.6 from 195.4 for the previous week due to higher prices of polystrene (5 per cent), ayurvedic medicine liquids (3 per cent) and syrup and acid (all kinds) (1 per cent each).

However, the prices of caustic soda (sodium hydroxide)(1 per cent) declined.

The index for Non-Metallic Minerals Products group rose by 0.1 per cent to 188.8 from 188.7 for the previous week due to higher prices of asbestos cement corrugated sheets (4 per cent).

The index for Basic Metal Alloys and Metal Products group rose by 0.7 per cent to 232.2 from 230.6 for the previous week due to higher prices of copper bars and rods (24 per cent), ferro silicon (9 per cent), tin boxs/containers (4 per cent), barrels (2 per cent) and basic pig iron, foundary pig iron and aluminium foils (1 per cent each).

However, the prices of other iron steel and zinc ingots (3 per cent each) and steel sheets, plates and strips (1 per cent) declined.

UNI