Inflation rate zooms to 9.16 per cent

The annual rate of inflation based on the revised wholesale price index (base - 1 November 2008 = 100) stood at 9.16 per cent (provisional) for the week ended 31 October 2009 against 8.94 per cent (provisional) for the previous week (ended 24 October 2009) and 11.99 per cent during the corresponding week (ended 1 November 2008) of the previous year.

The index for the `primary articles' group rose 0.4 per cent to 274.2 (provisional) from 273.0 (provisional) for the previous week.

Among primary articles, the index for the `food articles' group rose 0.6 per cent to 279.3 (provisional) from 277.7 (provisional) for the previous week due to higher prices of bajra (3 per cent), fruits and vegetables (2 per cent) and jowar, wheat and arhar (1 per cent each). However, the prices of fish-marine (-3 per cent) and tea (-1 per cent) declined.

The index for the 'non-food articles' group rose 0.1 per cent to 236.6 (provisional) from 236.3 (provisional) for the previous week due to higher prices of fodder (7 per cent), groundnut seed (2 per cent) and raw cotton (1 per cent). However, the prices of sunflower (-5 per cent), soybean (-4 per cent) and raw rubber (-1 per cent) declined.

The index for the `fuel, power, light and lubricants' group declined 0.2 per cent to 344.2 (provisional) from 344.9 (provisional) for the previous week due to lower prices of light diesel oil (-3 per cent) and naphtha and furnace oil (-2 per cent each). However, the prices of bitumen (4 per cent) moved up.

The annual rate of inflation, calculated on point to point basis, stood at (-) 1.71 per cent (provisional) for the week ended 31 October 2009 as compared to (-) 6.20 per cent (provisional) for the previous week (ended 24 October 2009) and 7.26 per cent during the corresponding week (ended 1 November 2008) of the previous year.