Inflation rises up marginally to 3.75 percent Friday, September 30 2005 15:27 Hrs (IST) - World Time -
New Delhi:
Inflation rose marginally to 3.75 per cent during week ended September 17 from 3.53 per cent a week ago, mainly due to increase in the prices of minerals,manufactured products and non-food essential items.
Though the point-to-point Wholesale Price Index (WPI) based inflation increased during the week to 3.75 per cent, it was still lower than 7.86 per cent a year ago.
WPI increased by 0.1 per cent to 196.5 points owing to costlier manufactured products although fuel remained unchanged and primary articles became cheaper. The index was
189.4 points a year ago.
The Government revised upward the final inflation figure to 4.33 per cent for the week ended July 23 from provisional 4.07 per cent, while the WPI stood corrected at 195 points as against the earlier estimate of 194.5 points.
During the week, crude-oil prices slipped below US$ 64 a barrel after OPEC lowered its demand forecast, supporting the belief that the high retail price of gas is keeping consumers from depleting supplies.
The oil ministers of Saudi Arabia and the United Arab Emirates have said that they were receptive to an OPEC decision to increase its output quota in an attempt to control
soaring oil prices.
Domestic fuel prices have gone up after the Government raised petrol and diesel prices on September 6.
This has put pressure on prices of essential non-food items and manufactured products.
The index for Primary Articles' group declined by 0.3 per cent to 194.9 points owing to cheaper food items even though prices rose for non-food and minerals. The index was 192.1 points a year ago.
Minerals' group index shot up by 6.5 per cent to 283.7 points due to higher prices of chromite (35 per cent), barites (21 per cent), iron ore (eight per cent), magnesite (four per cent) and fluorite (one per cent), but steatite became cheaper by 20 per cent.
Food Articles' group index fell by 0.8 per cent to 197.1 points due to lower prices of fruits & vegetables (three per cent) and arhar, eggs and jowar (two per cent each).
But prices moved up for maize (three per cent) and bajra (one per cent).
The index for Non-Food Articles' group was up by 0.3 per cent to 182.2 points as prices increased for linseed (six per cent), niger seed and sunflower (four per cent each), rape &
mustard seed (two per cent) and copra, raw silk, tobacco and groundnut seed (one per cent each).
However, prices fell for mesta (two per cent) and soyabean and safflower (one per cent each).
Fuel, Power, Light and Lubricants' group index stood firm at the previous week's level of 313.9 points. It was 281.9 point in the year ago period.
Manufactured Products' group index was marginally up by 0.1 per cent to 170.8 points as prices moved up for chemicals, non-metallic mineral, basic metals and transport equipments.
