Lower energy, milk prices bring inflation to 5.29%

New Delhi, Nov 26 (UNI) The annual rate of inflation remained static at 5.29 per cent for the week ending November 11, marginally down from 5.30 per cent during the previous week due to lower energy and milk prices.

The inflation rate calculated on a point-to-point basis, stood at 4.09 per cent during the corresponding week of the previous year, according to official figures released here.

RBI in its recent Monetary Policy has retained the target of inflation rate in the range of 5-5.5 per cent this fiscal.

''There is no material change since our mid-term review,'' Deputy Governor Rakesh Mohan said on Tuesday.

The central bank on October 31 hiked its overnight lending rate for the fourth time this year in a bid to calm red hot credit growth and reign in inflation amid a fast expanding economy.

The Wholesale Price Index (WPI) for all commodities for the week ended November 11, rose by 0.05 per cent to 208.9 from 208.8 for the previous week.

The index for the Primary Articles group rose by 0.1 per cent to 214.5 from 214.2 for the previous week.

The index for Food Articles group declined marginally to 218.5 from 218.6 for the previous week due to lower prices of gram and milk (2 per cent each) and masur (1 per cent).

However, the prices of eggs (10 per cent), maize (4 per cent), jowar (2 per cent) and barley, bajra, wheat and fruits and vegetables (1 per cent each) moved up.

The index for Non-Food Articles group rose by 0.7 per cent to 188.4 from 187.0 for the previous week due to higher prices of logs and timber (14 per cent) and rape and mustard seed and groundnut seed (1 per cent each).

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

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