Inflation rises to 3.79 per cent

New Delhi, Jan 18: The headline inflation rate for the week ended January 5 is at 3.79 per cent compared to its previous week's level of 3.50 per cent.

The annual inflation rate was 6.37 per cent during the corresponding week of the previous year, an official statement said here today. It is the 31st successive week that inflation has remained below central banks comfort zone of five per cent. However, a key government meeting to decide a hike in the retail prices of oil is expected to fuel inflationary pressures with the number expected to move towards four per cent in the near-term.

C Rangarajan, the head of Prime Minister Manmohan Singh"s Economic Advisory Council (EAC) yesterday raised fears that the headline WPI inflation rate will be above four per cent if petrol prices are revised.

UNI