Inflation further up at 5.58 per cent

New Delhi, Jan 12 (UNI) Amid raising concerns over high price rise, the annual inflation rate moved further to 5.58 per cent for the week ended December 30 from 5.48 per cent the previous week, due to costlier fuel and food articles.

The inflation rate calculated on a point-to-point basis, stood at 4.56 per cent during the corresponding week of the previous year, according to official figures released here today.

Earlier this week, Finance Minister P Chidambaram said inflation was being driven mainly by supply side constraints. He called on the industry to cut down the increasing rates of manufactured product prices.

''There is nothing wrong in making profits, but beware of entrenched core inflation. Cut costs to stabilise prices,'' he said.

The index for Fuel, Power, Light and Lubricants group rose by 0.1 per cent to 321.9 from 321.6 the previous week due to higher prices of furnace oil (2 per cent) and naphtha (1 per cent). However, the prices of bitumen (2 per cent) declined. The index for the Manufactured Products group remained unchanged at its previous week's level of 181.2.

The index for Food Products group declined by 0.2 per cent to 185.6 from 185.9 for the previous week due to lower prices of unblended black tea leaf gr (3 per cent), gur (2 per cent) and sugar (1 per cent).

However, the prices of rice bran oil and imported edible oil (3 per cent each), gingelly oil and groundnut oil (2 per cent each) and oil cakes (1 per cent) moved up.

The index for Textiles group rose by 0.2 per cent to 132.2 from 132.0 for the previous week due to higher prices of viscose staple fibre, tyre cord fabric and tyre cord (2 per cent each).

The index for Paper and Paper Products group rose by 0.1 per cent to 192.3 from 192.2 for the previous week due to higher prices of kraft paper (2 per cent) and mg poster paper (1 per cent).

However, the prices of pulp (4 per cent) declined.

The index for Chemicals and Chemical Products group rose by 0.1 per cent to 194.2 from 194.1 for the previous week due to higher prices of epoxy resins (10 per cent), pvc resins (3 per cent) and caustic soda (sodium hydroxide) (1 per cent).

However, the prices of purified terephthallic acid (pta) (2 per cent) declined.

The index for Non-Metallic Mineral Products group rose by 0.1 per cent to 192.4 from 192.3 for the previous week due to higher prices of ceramic tiles (3 per cent).

The index for Basic Metal Alloys and Metal Products group rose marginally to 240.0 from 239.9 for the previous week due to higher prices of pipes and tubes (2 per cent), and lead ingots (1 per cent).

However, the prices of zinc ingots (1 per cent) declined.

UNI