Financial Daily from THE HINDU group of publications
Saturday, Jul 02, 2005
Financial Daily from THE HINDU group of publications Saturday, Jul 02, 2005 |
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Economy Industry & Economy - Economy Inflation falls to 4.1 pc on lower textile prices Our Bureau
New Delhi , July 1 THE annual wholesale price index-based inflation dipped to 4.1 per cent during the week ended June 18, from the previous week's 4.33 per cent. The 0.23-per cent dip in growth was mainly on account of last year's high base and lower textile prices, according to data released here by the Ministry of Commerce and Industry. During the latest reported week, the WPI rose 0.2 per cent to 192.9 points due to costlier primary articles and manufactured goods prices, even as fuel prices remained unchanged. The index stood at 185.3 points in the year ago period. On a disaggregated basis, the index of primary articles was up 0.6 per cent to 190.4 points due to costlier food and non-food articles. The fuel, power, light and lubricants group index remained unchanged for the last two weeks at 296.3 points. The index for manufactured products' group was up 0.1 per cent to 170.7 points due to costlier food products, paper, chemicals, basic metals, machinery and transport parts. Among the primary articles, the food articles group index rose 0.8 per cent to 192.6 points due to higher prices of beef and buffalo meat (11 per cent, fish-marine and vegetables (4 per cent), pork and gram (2 per cent each) and wheat, maize, fruits and moong (1 per cent each). Prices, however, fell for poultry chicken and tea (9 per cent each) and condiments and spices, barley and bajra (1 per cent each). The index of non-food articles group rose 0.3 per cent to 180.4 points due to costlier raw jute and fodder (2 per cent) and groundnut seed, gingelly seed, raw silk, castor seed and raw tobacco (1 per cent each). There was a decline in prices in case of copra (2 per cent) and sunflower, cottonseed and niger seed (1 per cent each). Among the manufactured products, the food products group index rose 0.1 per cent to 174.2 points owing to higher prices of rice bran oil (4 per cent) and gur, imported edible oil and groundnut oil (1 per cent each), even as salt and oil cakes were cheaper by 1 per cent. The textiles group index fell 0.2 per cent to 130.4 points due to lower prices of cotton grey cloth and polyster yarn (2 per cent each) and cotton yarn-cones, hessian and sacking bags and hessian cloth (1 per cent each). However, prices rose for texturised yarn (3 per cent), cotton grey drills and jeans (2 per cent) and synthetic cloth and synthetic yarn (1 per cent each). A 1-per cent hike in cream laid woven paper and newsprint pushed up the paper and paper products group index by 0.1 per cent to 177.7 points. The index for chemicals and chemical products group was up 0.2 per cent to 186.3 points owing to costlier thinners (26 per cent), paints (8 per cent) and enamels (6 per cent), even as acid became cheaper by 2 per cent. The non-metallic mineral products group index fell 0.1 per cent to 167.6 points due to lower prices of ceramic tiles (6 per cent) and building bricks (2 per cent). The basic metals alloys and metal products group index was up 0.1 per cent to 222.8 points as prices rose for copper bars and rods (11 per cent) and zinc ingots (10 per cent), but lead ingots became cheaper by 5 per cent. A 1-per cent hike in the prices of PVC insulated cable pushed up the machinery and machine tools group index by 0.1 per cent to 146.1 points. The transport equipment and parts group index went up 0.3 per cent to 159.5 points due to a 6-per cent hike in prices of mopeds while motorcycles became cheaper by 3 per cent. The Government revised upwards the inflation to 5.96 per cent during the week ended April 23, compared to the provisional estimate of 5.91 per cent, while WPI stood corrected at 190 points against the provisional level of 191.9 points.
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