New Delhi: Inflation dips to 5.77 per cent

New Delhi, May 6: The annual rate of inflation dipped to 5.77 per cent for the week ended April 21, as compared to 6.09 per cent the previous week, after a no change in the percentage for continuous two-week.

The annual rate of inflation, calculated on a point-to-point basis, stood at 3.85 per cent during the corresponding week of the previous year, according to an official figures issued here.

Finance minister P Chidambaram said the government will work on policy measures and step up supply to bring down inflation to 4.5 per cent from the current six-plus per cent.

''I am confident that current inflation, which is over six per cent since January 2007, will be moderated to 4.5 per cent with the combination of measures in the fiscal, monetary and supply side,'' he said on thursday.

The Wholesale Price Index (WPI) for all commodities for the week ended April 21, remained unchanged at its previous week's level of 210.9.

The index for the primary articles group rose by 0.05 per cent to 219.2 from 219.1 for the previous week.

The index for food articles group declined by 0.05 per cent to 218.4 from 218.5 for the previous week due to lower prices of eggs (5 per cent), urad (2 per cent) and wheat, jowar and arhar (1 per cent each).

However, the prices of poultry chicken (3 per cent) and masur, gram and barley (1 per cent each) moved up.

The index for non-food articles group rose by 0.2 per cent to 205.2 from 204.8 for the previous week due to higher prices of fodder (9 per cent) and cotton seed, copra, raw cotton and niger seed (2 per cent each).

However, the prices of gingelly seed (6 per cent), raw silk (3 per cent), raw rubber (2 per cent) and linseed (1 per cent) declined.

The index for minerals group rose by 0.3 per cent to 419.8 from 418.4 for the previous week due to higher prices of vermiculite (47 per cent) and magnesite (6 per cent).

However, the prices of steatite (14 per cent) and fire clay (5 per cent) declined.

The index for fuel, power, light and lubricants group rose marginally to 320.5 from 320.4 for the previous week due to higher prices of furnace oil (1 per cent). The index for manufactured products group declined by 0.1 per cent to 183.5 from 183.6 for the previous week. The index for food products group declined by 0.2 per cent to 186.7 from 187.1 for the previous week due to lower prices of sunflower oil (4 per cent), imported edible oil and unblended black tea leaf gr (2 per cent each) and oil cakes and gur (1 per cent each).

However, the prices of coconut oil (4 per cent) and gingelly oil (1 per cent) moved up.

The index for textiles group declined by 0.2 per cent to 132.8 from 133.0 for the previous week due to lower prices of hessian and sacking bags (4 per cent each) tyre cord fabric (2 per cent).

The index for paper and paper products group rose by 0.1 per cent to 192.6 from 192.5 for the previous week due to higher prices of mg poster paper (1 per cent).

The index for chemicals and chemical products group rose by 0.1 per cent to 197.7 from 197.5 for the previous week due to the higher prices of purified terephthalic acid (pta) (8 per cent), benzene (5 per cent) and pvc resins (2 per cent).

The index for basic metals alloys and metal products group rose by 0.1 per cent to 242.4 from 242.1 for the previous week due to higher prices of steel ingots (plain carbon) (14 per cent), other iron steel (3 per cent), foundary pig iron and basic pig iron (2 per cent each), and ms bars and rounds and steel sheets, plates and strips (1 per cent each).

However, the prices of lead ingots (2 per cent) and copper bars and rods (1 per cent) delined.

The index for machinery and machine tools group declined by 0.1 per cent to 162.1 from 162.3 for the previous week due to lower prices of enamelled copper wires (3 per cent) and ball bearings (1 per cent).

UNI