New Delhi: Inflation rose to a 24-week high of 6.16
per cent for the week ended July 3. The surge was mainly
on account of the aviation turbine fuel (ATF) turning
costlier, along with a rise in the prices of manufactured
items.
Reacting
to the rising inflationary trend, the government said
it plans to watch how the inflation rate behaves over
the next two to three weeks. "We have to watch the
situation for the next two to three weeks," the chief
economic adviser to the finance ministry, Ashok Lahiri,
told newspersons after the wholesale price index data
was released yesterday.
The
point-to-point inflation, according the data released
by the industry ministry, was up 0.07 per cent from 6.09
per cent during the previous week, even as prices of food
articles fell mainly due to cheaper fruits and vegetables.
According to the data, the food articles group index plummeted
by over one per cent to 183.4 points due to lower prices
of vegetables and fruits (six per cent), tea (three per
cent) and bajra (one per cent).
Prices
rose for barley (three per cent), fish-inland, and condiments
and spices (two per cent each) and fish-marine, moong,
urad and masur (one per cent each).
The
index for non-food articles'' group was up 0.5 per cent
to 192.6 points due to costlier castor seed (three per
cent), safflower and groundnut seed (two per cent each)
and fodder, raw rubber, raw tobacco and rape and mustard
seed (one per cent each), even as gingelly seed became
cheaper by one per cent.
Fuel,
power, light and lubricants'' group index declined by 0.1
per cent to 274.9 points due to one per cent dip in the
price of naphtha and furnace oil, even as the ATF became
costlier by a whopping 11 per cent. The index was 249.3
points during the previous year.
The
index of heavy-weigthted manufactured products'' group
was up by 0.1 per cent to 164 points due to costlier food
products, beverages, tobacco, textiles, chemicals, basic
metals and transport equipment; it was 154.1 points a
year ago.
The
food products group index rose 0.2 per cent to 173.5 per
cent due to higher prices of oil cakes and khandsari (two
per cent each), rice bran oil, rawa, coconut oil and atta
(one per cent each).
But
prices of bran (five per cent) and imported edible oil
(one per cent) fell. A 17 per cent spurt in prices of
rectified spirit pushed beverages, tobacco and tobacco
products group index up 0.8 per cent to 210.9 points.
A
three per cent dip in prices of cotton yarn-hanks pushed
the textiles group index down 0.4 per cent to 135.4 points,
even as texturised yarn became costlier by two per cent
and cotton yarn cones by one per cent.
A
16 per cent rise in benzene price moved the chemicals
and chemical products group index up 0.2 per cent to 178.8
points while purified terephthalic acid became cheaper
by one per cent. A marginal one per cent fall in cement
prices pushed the non-metallic mineral products group
index down 0.3 per cent to 153.3 points. The index for
basic metals alloys and metal products'' group rose 0.1
per cent to 202.6 points owing to higher prices of bright
bars (20 per cent) and ferro silicon (three per cent),
even as zinc became cheaper by two per cent. The transport
equipment and parts'' group index was up 0.1 per cent to
150.3 points due to higher prices of trekker (seven per
cent), jeeps (nine per cent) and bicycles (one per cent).
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