Business Daily from THE HINDU group of publications
Saturday, Jun 23, 2007
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Business Daily from THE HINDU group of publications Saturday, Jun 23, 2007 ePaper |
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Economy Agri-Biz & Commodities - Commodities Inflation at 4.28%, hits 14-month low Our Bureau
New Delhi June 22 A continued downtrend in prices of primary articles, combined with a slide in fuel prices, pushed down the wholesale price index-based inflation rate to a 58-week (14-month) low of 4.28 per cent for the week ended June 9, as against the previous week's 4.80 per cent. Inflation was measured at 5.29 per cent during the corresponding period the previous year. During the latest week, items such as foodgrains, fruits and vegetables, eggs, meat and fish and some other food articles pulled down inflation in the primary articles' group to 7.58 per cent, from 8.20 per cent during the preceding week. Fuel group dropped to a negative 1.23 per cent, from 0.56 per cent in the week ended June 2. This is the lowest inflation in the fuel group since February 6, 1999, according to Centre for Monitoring Indian Economy (CMIE). The negative inflation in the fuel group was mainly a result of a high base-effect. Manufacturing products — the largest contributor to the headline inflation — increased marginally to 5.25 per cent, from 5.13 per cent during the previous week, with textiles and chemicals among the items showing price escalation. Food products, rubber and plastic products, non-metallic minerals, metals and machinery, however, came down during the week.
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