The Hindu Business Line : Inflation rises on costlier chemicals

THE annual wholesale price index-based inflation rose 4.32 per cent during the week ended November 19, up from the previous week's annual rise of 4.20 per cent.

The increase in the year-on-year inflation rate was largely on account of higher prices of tobacco, chemical products and textiles, according to data released by the Ministry of Commerce and Industry.

During the latest reported week, the WPI ended at 198.1 points, from 198.6 points a week ago. WPI was at 189.9 points a year ago. Inflation was at 7.23 per cent during the corresponding week of the previous year.

During the latest reported week, the Primary Article's group index was down 0.9 per cent as compared with last week at 198.1 points due to fall in prices of food and non-food items. A one per cent fall in the prices of naphtha and furnace oil pushed down the fuel, power, light and lubricants group index by 0.1 per cent to 312.1 points. But bitumen became costlier by one per cent. The manufactured products group index stood firm at the previous week's level of 172.7 points despite fall in the prices of food, wood, non-metallic mineral and metal products. Among the Primary Articles group, the food article's group was down 1.1 per cent to 199.5 points due to lower prices of vegetables (10.4 per cent), masur, tea and fish-marine (two per cent each). However, prices moved up for eggs (seven per cent), ragi and moong (three per cent each), poultry chicken and bajra (two per cent each) and urad, gram, condiments and spices and barley (one per cent each).

Non-food article's group index declined 0.5 per cent to 182 points due to lower prices of sunflower (three per cent), cotton seed and raw cotton (two per cent each) and groundnut seed and rape and mustard seed (one per cent each). However, prices rose for gingelly seed (five per cent), mesta (four per cent), raw jute, castor seed and fodder (two per cent) and niger seed and soyabean (one per cent each).

Among the Manufactured Products' group, the index for food products' group fell 0.2 per cent to 178.3 points due to lower prices of gur (seven per cent), coconut oil (four per cent) and groundnut oil, oil cakes and rice bran oil (one per cent each).

A six per cent increase in beer and alcohol prices pushed up the beverages and tobacco products group index by 0.1 per cent to 230.2 points.

The textiles' group index rose by 0.2 per cent to 128.7 points due to costlier hessian and sacking bags (three per cent) and hessian cloth and viscose filament yarn (one per cent each), even as texturised yarn became cheaper by one per cent.

The Government also revised upwards inflation figure to 4.34 per cent for the week ended September 24, from provisional 3.97 per cent, while WPI stood corrected at 197.2 points as against the earlier estimate of 196.5 points.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page