Inflation further dips to 5.74%

By Staff
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Google Oneindia News

New Delhi, Apr 13 (UNI) The annual rate of inflation further came down to 5.74 per cent for the week ended March 31, from 6.39 per cent for the last week.

The headline inflation calculated on a point-to-point basis stood at 3.98 per cent during the corresponding week a year ago, official data showed here today.

Finance Minister P Chidambaram said this week that improving supply side constraints along with monetary and fiscal steps would help in moderating inflation.

''If the supply side improves together with monetary and fiscal steps, inflation will moderate'' Mr Chidambaram said.

Yesterday, the Government in its Cabinet Committee of Economic Affairs (CCEA) meeting gave its approval to the import of 1.5 mmt pulses through public sector agencies to stabilise the prices in the market.

The Wholesale Price Index (WPI) for all commodities for the week ended March 31, rose by 0.1 per cent to 210.0 from 209.8 for the previous week.

The index for the Primary Articles group rose by 0.3 per cent to 215.9 from 215.3 for the previous week.

The index for Food Articles group rose by 0.2 per cent to 214.8 from 214.3 for the previous week due to higher prices of pork (11 per cent), ragi and bajra (2 per cent each) and milk, masur and gram (1 per cent each).

However, the prices of condiments and spices (2 per cent) and fishmarine (1 per cent) declined.

The index for Non-Food Articles group rose by 0.5 per cent to 202.8 from 201.8 for the previous week due to higher prices of raw rubber (4 per cent), soyabean (3 per cent) and raw cotton (1 per cent).

However, the prices of castor seed (4 per cent) and copra and cotton seed (1 per cent each) declined.

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