The Hindu Business Line : Costlier fuel pushes up inflation further

THE annual Wholesale Price Index-based inflation rose 3.97 per cent during the week ended September 24, accelerating from the previous week's annual rise of 3.75 per cent. The increase on the year-on-year inflation was largely on account of a rise in manufactured product and fuel prices, according to data released here by the Ministry of Commerce and Industry today.

The WPI stood at last week's level of 196.5 points during the latest reported week, as against a level of 189 points during the corresponding week a year ago. The inflation rate was 7.33 per cent during the corresponding week of the previous year.

On a disaggregated basis, the Primary Articles' group index fell 0.8 per cent to 195.5 points due to fall in prices of food and non-food items. The index was at 190.3 points a year ago.

The Fuel, Power, Light and Lubricants group index was up 0.2 per cent to 314.6 points due to higher prices of furnace oil (five per cent). The index was at 281.7 points a year ago.

The Manufactured Products' group index rose 0.2 per cent to 171.2 points as prices rose for food, textiles, leather, rubber, base metals and machinery. The index was 167.9 points in the year-ago period.

Among the Primary Articles' group, the Food Articles' group index was down marginally to 195.5 points due to lower prices of mutton and fruits and vegetables (four per cent each) and fish-inland (one per cent). But prices rose for condiments and spices (three per cent) and bajra, barley and maize (one per cent each).

The Government revised upward the inflation figure to 4.16 per cent for the week ended July 30, from a provisional figure of 3.84 per cent.

The WPI stood corrected at 195.1 points as against the earlier estimate of 194.5 points.

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