labels: economy - general, governance, union budget 2004
Inflation crosses 6 per cent mark news
Our Economy Bureau
09 July 2004

New Delhi: Inflation crossed six per cent during the week ended June 26. The rise was mainly due to price rise in fuels such as petrol, and manufactured items, including edible oils. The general price level in the country was 5.32 per cent in the previous year period.

The WPI rose by 0.4 per cent to 184.7 points even as the index of primary articles'' became cheaper. The index was 174.1 points in the year-ago period.

Government revised upwards point-to-point inflation to 4.60 per cent for the week ended May 1 compared to provisional figure of 4.20 per cent.

The final WPI stood corrected at 181.8 points during the first week of may as against the provisional level of 181.1 points.

The index of primary articles'' declined by 0.5 per cent to 186.3 points due to a substantial fall in the price of food articles, even as non-food items'' prices remained unchanged. The index was 186.2 points a year ago.

Food articles'' group index was down by 0.7 per cent to 185.4 points due to cheaper fish-marine and ragi (five per cent), fruits and vegetables (three per cent), barley, jowar and fish-inland (two per cent each) and moong and tea (one per cent each).

Prices rose for coffee (14 per cent), beef and buffalo meat (eight per cent), eggs (two per cent) and bajra, masur, condiments & spices and urad (one per cent each).

The index of non-food articles'' group stood unchanged at the previous week''s level of 191.6 points despite costlier soyabean (two per cent) and castor seed and gingelly seed (one per cent each).

Prices declined in the case of niger seed (eight per cent), sunflower (four per cent), raw silk (three per cent), kardi seed (two per cent) and copra, raw rubber and raw tobacco (one per cent each).

Fuel, power, light and lubricants'' group index shot up by two per cent to 275.2 points due to higher prices for coking coal (24 per cent), non-coking coal (16 per cent), furnace oil (five per cent), light diesel oil (four per cent), naphtha and bitumen (two per cent each) and petrol (one per cent). The index was 246.1 points in the previous year period. The index of manufactured products'' group was up by 0.1 per cent to 163.9 points due to costlier food products, textiles, chemicals, basic metals and machinery. The index was 153.8 points a year ago.


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Inflation crosses 6 per cent mark