Costlier food items push inflation to 6.73 pc

By Staff
|
Google Oneindia News

New Delhi, Feb 18 (UNI) Despite several measures taken by the RBI to control rising prices, the headline inflation rate moved up to 6.73 per cent for the week ended February 3, from 6.58 per cent during the previous week.

The rise was attributed mainly to higher food and manufactured product prices, official data showed.

After raising the repo rate by 25 basis points to 7.5 per cent recently, the Reserve Bank of India (RBI) also hiked the banks' cash reserve ratio (CRR) by 50 basis points from the current 5.5 per cent in an effort to contain the surging inflation.

The rate of inflation, calculated on a point-to-point basis, was 3.98 per cent during the corresponding week of the previous year.

The Wholesale Price Index (WPI) for all commodities for the week ended February 3, rose by 0.2 per cent to 209.2 from 208.8 for the previous week.

The index for the Primary Articles group rose by 0.5 per cent to 216.1 from 215.0 for the previous week.

The index for Food Articles group rose by 0.5 per cent to 217.1 from 216.1 for the previous week due to higher prices of pork (26 per cent), eggs (7 per cent), mutton (4 per cent) and urad, masur, moong, condiments and spices, fruit and vegetables and bajra (1 per cent each).

However, the prices of barley and wheat (1 per cent each) declined.

The index for Non-Food articles group rose by 0.7 per cent to 197.4 from 196.0 for the previous week due to higher prices of niger seed (25 pr cent), raw rubber (5 per cent), soyabean and sunflower (3 per cent each) and fodder and groundnut seed (1 per cent each).

However, the prices of copra and castor seed (1 per cent each) declined.

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