Inflation surges to 7.33% after last week's decline

New Delhi, Apr 27 (UNI) The headline inflation rate for the week ended April 12, surged to 7.33 per cent as compared to 7.14 per cent for the previous week.

The annual inflation rate was 6.34 per cent during the corresponding week of the previous year.

The increase in inflation rate is just after the previous week's decline which saw the first softening after eight weeks of rise.

Finance Minister P Chidambaram has said the government is mulling over administrative steps to contain inflation.

However, he reiterated that anti-inflation steps may lead to slow growth rate.

''The price rise is mainly due to the rise in prices in the international market but we are confident that in a period of time inflation will ease out,'' he said.

The government aims to sustain the growth momentum with price stability.

The Wholesale Price Index (WPI) for all commodities for the week ended April 12, 2008 rose by 0.3 per cent to 226.9 (Provisional) from 226.6 (Provisional) for the previous week.

The index for 'Primary Food Articles' rose by 0.5 per cent to 237.1 (Provisional) from 236.0 (Provisional) for the previous week.

The index for the 'Food Articles' group rose marginally to 228.6 (Provisional) from 228.5 for the previous week due to higher prices of fish marine (four per cent).

However, the prices of gram (three per cent) and barley, arhar, masur, pork and condiments and spices (one per cent) declined.

The index for 'Non-Food Articles' group rose by 0.4 per cent to 227.3 (Provisional) from 226.4 (Provisional) for the previous week due to higher prices of raw wool (14 per cent), soyabean, raw rubber and gingelly seed (three per cent), copra (two per cent) and groundnut seed (one per cent).

However, the prices of rape and mustard seed (one per cent) declined.

The index for 'Fuel, Power, Light and Lubricants' group rose to 342.1 (Provisional) from 342.0 (Provisional) for the previous week due to higher prices of bitumen and lubricants (one per cent).

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