Inflation rate surges to 1.51%

Oct. 29 The wholesale price inflation rose at its fastest pace in six months, with the annual Wholesale Price Index-based inflation rate surging 1.51 per cent during the week ended October 17, up from the previous week’s annual rise of 1.21 per cent.
Inflation was recorded at 10.82 per cent during the corresponding week of the previous year. The official WPI for ‘All Commodities’ for the latest week remained unchanged at previous level of 242.2 points.Fish cheaper
On a disaggregated basis, the Primary Articles group index declined by 0.1 per cent as the index for ‘Food Articles’ dipped by 0.1 per cent due to lower prices of fish-marine (6 per cent). However, the prices of tea, mutton, maize, arhar, condiments and spices and moong (1 per cent each) moved up.
The Fuel and Power group declined by 0.1 per cent due to lower prices of aviation turbine fuel (3 per cent), furnace oil (2 per cent) and light diesel oil (1 per cent). However, the prices of bitumen (2 per cent) moved up.
The Manufactured Products group index rose by 0.1 per cent as the index for ‘Food Products’ group rose by 0.4 per cent due to higher prices of imported edible oil and gur (4 per cent each), rice bran oil (3 per cent) and oil cakes (2 per cent). However, the prices of butter and groundnut oil (2 per cent each) and gingelly oil and ghee (1 per cent each) declined.
The index for ‘Textiles’ group declined by 0.1 per cent due to lower prices of cotton yarn-cones (1 per cent). However, the prices of hessian cloth (2 per cent) moved up.
The index for ‘Base Metals Alloys and Metal Products’ group declined by 0.1 per cent to 256.8 points from 257 points for the previous week due to lower prices of steel ingots and ms bars and rounds (3 per cent each), basic pig iron and foundry pig iron (2 per cent each) and other iron steel (1 per cent). However, the prices of zinc ingots (1 per cent) moved up.
ANSHU KUMAR
PGDM 1st sem