Inflation falls marginally to 5.84 pc Friday, February 27 2004 14:02 Hrs (IST)
New Delhi:
Inflation fell marginally by 0.07 per cent to 5.84 per cent for the week ended February 14 due to cheaper vegetables and fruits, eggs and poultry chicken and milk.
The point-to-point wholesale price index (WPI) inflation declined from the previous week's figure of 5.91 per cent even as prices rose for primary articles and heavy-weighted manufactured products, notably edible oils. The index was 5.34 per cent in the year-ago period.
The WPI, however, rose by 0.1 per cent to 179.4 points in the latest reported week as compared to 179.2 points in the previous week even as fuel prices remained unchanged for three consecutive weeks, and the index was 169.5 points in the same period in 2002-03.
Government revised upwards the final inflation to 5.92 per cent during the week ended December 20 as compared to the provisional figure of 5.63 per cent.
The final WPI stood corrected at 177 points during mid December as against the provisional level of 176.5 points.
Primary articles' group index was up by 0.2 per cent to 182.1 points due to costlier food and non-food products, even as minerals became cheaper. The index was 176.6 points in the previous year period.
The index for food articles' group rose by 0.2 per cent to 179.9 points due to costlier jowar (three per cent), wheat, masur milk and moong (one per cent each).
Prices, however, fell for eggs (six per cent), bajra and poultry chicken (two per cent each) and fruits and vegetables (one per cent).
The index of non-food articles' group was up by 0.2 per cent to 192.8 points due to higher prices for raw wool, copra and soya bean (two per cent each) and rape and mustard seed and groundnut seed (one per cent each).
But there was a four per cent decline in the price of niger seed, two per cent for fodder and one per cent for cotton.
Minerals' group index declined by 0.4 per cent to 116.6 points due to cheaper gypsum (42 per cent), fire clay (28 per cent), stealite (19 per cent), magnesite (six per cent) and bauxite (one per cent), even as prices rose for chromite by seven per cent.
The index of fuel, power, light and lubricants' group was firm at 263.3 points. The index was 244.4 points in the previous year period.
Manufactured products' group index rose marginally by 0.1 per cent to 159.5 points on account of costlier food products, textiles, chemicals, non-metallic minerals and basic metals and the index was 150.3 points in the year-ago period.