Inflation at 3.79% on low food prices
Inflation at 3.79% on low food prices
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Inflation based on the wholesale price index (WPI) stood at 3.79% for the week ended August 25 as against 3.94% for the previous week. The annual rate of inflation stood at 5.27% as on August 26 a year ago.
Low prices on food products and some manufactured products caused the inflation to move southward. With inflation remaining low below 4%, the apex bank would soften its stance on monetary policy this year.
For the week ended August 25, prices of food articles such as maize, fish-marine, wheat and fruits & vegetables declined 1% each. While the prices moong, condiments & spices and eggs moved northward 1% each. For non- food articles, sunflower rose 5% and raw cotton moved up 3%. Prices of raw rubber steeply declined to 11% and those of raw silk moved down 4%.
The index for `fuel, power, light and lubricants` remained unchanged at its previous week` s level of 322.1.
During the same period, prices of gur rose 3%, and for kraft paper and m.g. poster paper moved northward 2% each. Prices of ayurvedic medicine liquids rose to 4%, prices of cement moved up (+0.2%).On the other hand, prices of acid of all kinds and carbon black witnessed a drop in prices 2% and 1% respectively.
According to the provisional data provided today, the official wholesale price index for `All Commodities` for the week ended June 30 rose 0.14% to 212.8 from 212.5 for the previous week.
