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Our Bureau

New Delhi, Aug. 28 An easing of inflation levels among primary articles and fuel items pulled down headline inflation, with the Government terming the dip as “early signs of moderation”.

The annual wholesale price index-based inflation rose 12.40 per cent for the week ended August 16, lower than the 12.63 per cent the previous week. Inflation was at 3.99 per cent during the corresponding week a year ago.

Reacting to the latest provisional numbers, the Finance Ministry said: “There are some early signs of moderation of inflation.” The dip in headline inflation was despite a continued rise in inflation in manufactured products.

Among primary articles, the annual inflation rate dipped to 11.63 per cent (11.83 per cent), with 21 out of total 98 articles witnessing a decline in price levels and another 48 articles staying unchanged. Bajra, jowar, maize, potatoes, tomatoes, mutton, raw silk, cotton, groundnut seeds and iron ore are among items recording a dip.

In the fuels group, the year-on-year inflation declined to 16.76 per cent from 17.99 per cent, with naphtha, furnace oil and light diesel oil exhibiting moderation.

In the case of manufactured products, the rate of inflation surged to 11.02 per cent (10.91 per cent). A total of 18 products, led by sugar, mustard and gingelly oil, computer and computer based systems, electric motors and some steel items accounted for the rise. The surge was despite 287 of the total 318 commodities in the manufactured products group remaining static, while 13 commodities dipped during the latest week.

Meanwhile, the Government hiked the final inflation estimate for the week ended June 21 to 11.91 per cent, against the provisional figure of 11.63 per cent.

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