Annual rate of inflation swells to 5.45 pc

New Delhi, Dec 1: The annual rate of inflation rose to 5.45 per cent for the week ended November 18 from 5.29 per cent during the previous week, due to higher manufactured product prices.

The inflation rate calculated on a point-to-point basis, stood at 4.27 per cent during the corresponding week of the previous year, according to official figures released here today.

Finance Minister P Chidambaram yesterday expressed his concern about 'slightly higher than expected inflation'. He said that the government's tolerance level for inflation is below 4 per cent.

In a move to bring down the headline annual inflation rate, the government on Wedenesday announced a 4.25 per cent and 3 per cent cut on retail prices of petrol and diesel respectively on account of lower prices of crude oil in international markets.

The index for the Fuel, Power, Light and Lubricants group remained unchanged at its previous week's level of 329.4. The index for the Manufactured Products group rose by 0.1 per cent to 180.3 from 180.1 for the previous week. The index for Food Products group rose by 0.1 per cent to 184.3 from 184.1 for the previous week due to higher prices of rice bran oil (4 per cent), imported edible oil (2 per cent) and rape and mustard oil, groundnut oil and oil cakes (1 per cent each).

However, the prices of laggery and coconut oil (1 per cent) declined.

The index for Beverages Tobacco and Tobocco Products group declined by 0.1 per cent to 242.3 from 242.5 for the previuos week due to lower prices of beer and alcohol (3 per cent).

The index for Textiles group declined by 0.1 per cent to 133.2 from 133.3 for the previous week due to lower prices of hessian cloth (2 per cent) and hessian and sacking bags (1 per cent).

The index for Rubber and Plastic Products group rose by 0.2 per cent to 152.2 from 151.9 for the previous week due to higher prices of PVC fitting and accessories (10 per cent) and plastic items (1 per cent).

The index for Chemicals and Chemical Products group rose by 0.2 per cent to 193.5 from 193.2 for the previous week due to higher prices of ayurvedic medicine liquids (14 per cent) and calcium ammonium nitrate n-content (9 per cent).

However, the prices of phenol (2 per cent) and caustic soda (sodium hydroxide) (1 per cent) declined.

The index for Non-Metallic Mineral Products group rose by 0.3 per cent to 192.7 from 192.1 for the previous week due to higher prices of cement (1 per cent).

The index for Basic Metal Alloys and Metal Products group rose by 0.1 per cent to 238.2 from 237.9 for the previous week due to higher prices of alloy steel casting (23 per cent), cast iron casting (11 per cent), and basic pig iron and foundry pug iron (1 per cent each).

However, the prices of zinc ingots (4 per cent), zinc (3 per cent), lead ingots (2 per cent) and steel sheets, plates and strips declined.

UNI