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Home -> Finance -> Full Story

Inflation crosses 6 pc, highest so far this fiscal
Friday, July 9 2004 14:16 Hrs (IST)

New Delhi: Inflation crossed six per cent, the highest so far in this fiscal, during the week ended June 26 mainly due to price rise in fuels such as petrol and manufactured items, including edible oils.

Bringing real interest rates, which measure the effective returns on savings of public, in negative territory, the Wholesale Price Index (WPI) inflation rose by 0.22 per cent to 6.09 per cent despite a three per cent fall in vegetable and fruits prices.

The general price level in the country was 5.32 per cent in the previous year period.

The spurt in inflation, which is also at a 21-week high, came amidst the UPA (United Progressive Alliance) Government's promise that it would check the prices of essential commodities.

The WPI rose by 0.4 per cent to 184.7 points even as the index of Primary Articles' became cheaper. The index was 174.1 points in the year-ago period.

Government revised upwards point-to-point inflation to 4.60 per cent for the week ended May 1 compared to provisional figure of 4.20 per cent.

The final WPI stood corrected at 181.8 points during the first week of May as against the provisional level of 181.1 points.

PTI