New
Delhi: Wholesale price index-based inflation eased
to 6.05 per cent during the week ended February 17, from
6.63 per cent in the previous week. The easing is attributed
to the cut in prices of petrol and diesel, essential food
products and some manufactured goods.
This
is the second eek in a row that inflation has declined,
though it is still above the range of 5 per cent to 5.5
per cent the centre wants to peg it at. In the same period
last year, inflation stood at 4.13 per cent.
The
direct effect of the cut in fuel prices has resulted in
the category of fuel, power, light and lubricants, which
has a 14.23-per cent weightage in the overall inflation
index, declined by 0.6 per cent due to the lower prices
of petrol, which declined by four per cent. Mineral oil
among fuel items also fell and so did some manufactured
items like zinc.
Among
other products in the group, prices of the high-speed
diesel and light diesel oil declined by three per cent
each and bitumen prices went down by two per cent. However,
prices of furnace oil went up by nine per cent and naphtha
by one per cent.
Among
food products, vegetable, fruits, pulses, sugar, khandsari,
'gur', edible oils, egg, meat and fish declined. Prices
of the fish marine and gram became cheaper by four per
cent and fish inland by three per cent.
However,
poultry and chicken became costlier by 14 per cent. Arhar
got costlier by one per cent followed by higher prices
of barley maize and wheat by one per cent each.
Among
the non-food articles, mesta got cheaper by three per
cent and prices of raw cotton, raw jute and copra declined
by one per cent each.
Minerals
like fluorite got cheaper by 48 per cent, fire clay dipped
by 29 per cent. Prices of steatite, Magnesite, feldspar
moved down by 20 per cent, 13 per cent and 4 per cent
respectively.
However,
prices of phosphorite moved up by 25 per cent.
The
budgetary proposals outlined by the finance minister this
Wednesday had focused on moderating growth while maintaining
price stability.
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