Inflation remains unaltered at 5.16 pc

New Delhi, Oct 22 (UNI) The annual rate of inflation for the week ended Ocober 7, remained unchanged as that of the previous week at 5.16 per cent, owing to higher prices of power and and a decline in the prices of food articles besides some manufactured products.

The inflation rate calculated on a point-to-point basis, stood at 4.88 per cent during the corresponding week of the previous year, according to official figures released here today.

Vowing to bring down inflation the Finance Minister P Chidambaram last week said if supply side constraints persist then inflation will hover bewteen four to five per cent. But medium term moderation will set in after the supply side constraints cease, such as those pertaining to fresh stocks of wheat and sugar.

The Wholesale Price Index (WPI) for all commodities for the week ended October 7, 2006, rose marginally to 207.9 from 207.8 for the previous week.

The index for the Primary Articles group declined by 0.2 per cent to 211.9 from 212.4 for the previous week.

The index for Food Articles group declined marginally to 215.6 from 215.7 for the previous week due to lower prices of fish-marine (6 per cent), mutton (4 per cent), bajra (3 per cent) and ragi and maize (1 per cent each).

However, the prices of poultry chicken (3 per cent), moong, jowar, arhar and gram (2 per cent each) and fish-inland and barley (1 per cent each) moved up.

The index for Non-Food Articles group declined by 0.9 per cent to 185.6 from 187.2 for the previous week due to lower prices of logs and timber (12 per cent), sunflower (9 per cent), rape and mustard seed (2 per cent each) and raw silk and soyabean (1 per cent each).

However, the prices of groundnut seed (2 per cent) and gingelly seed, copra and castor seed (1 per cent each) moved up.

The index for the Fuel, Power, Light and Lubricants group rose by 0.2 per cent to 329.5 from 328.9 for the previous week due to higher prices of electricity (1 per cent).

However, the prices of furnance oil declined by 1 per cent.

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