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Inflation up on costlier manufactured items

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Our Bureau

New Delhi, Oct. 28

THE annual wholesale price index-based inflation went up 4.71 per cent on a yearly basis during the week ending October 15, higher than the previous week's 4.62 per cent. The rise in the year-on-year inflation was largely due to an increase in food, manufactured products and mineral prices, according to data released by the Ministry of Commerce and Industry here on Friday.

During the latest reported week, the Wholesale Price Index (WPI) inched up to 197.7 points as primary articles became costlier by one per cent and manufactured products by 0.1 per cent, though fuel prices remained unchanged. Inflation had registered a 7.21 per cent increase during the corresponding week last year.

On a disaggregated basis, the primary articles group index increased to 196.9 points as minerals became costlier by 22.7 per cent, food items by 0.3 per cent and non-food items by 0.1 per cent. The Fuel, Power, Light and Lubricant group index stood firm at previous week's level of 315 points, but was higher than 282 points last year.

The Manufactured Products group index rose marginally to 171.8 points due to costlier IMF spirit, textiles, non-metallic minerals, base metals and alloys and machine tools, although food products and chemicals became cheaper.

Among the primary articles' group, the mineral group index rose to 348.2 points as prices of iron ore rose by 29 per cent, vermiculite (30 per cent), barytes (seven per cent) and magnesite (one per cent). But, prices softened for steatite (three per cent) and asbestos (one per cent). Food article index rose to 198.3 due to higher prices of urad (three per cent), pork and fish-marine (two per cent each), maize, gram, fruits and vegetables (one per cent each). However, bajra became cheaper by six per cent, poultry chicken by three per cent and condiments and spices by one per cent.

The textile group index rose by 0.7 per cent to 128.2 points as synthetic yarn became costlier by 11 per cent. However, tyre cord fabric became cheaper by 14 per cent, while prices declined for acrylic yarn and nylon filament yarn by one per cent each.

(This article was published in the Business Line print edition dated October 29, 2005)
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