Mumbai:
The annual rate of inflation based on the wholesale price index stood at 3.07
per cent for the week ended 13 October, unchanged from the previous week''s level,
despite a rise in the prices of food products and some manufactured items. The
inflation rate stood at 5.46 per cent in the corresponding week a year ago.
Among food articles, fruits and vegetables, pulses, eggs, meat and fish turned
expensive during the week, while some manufactured food articles like atta, maida
got cheaper. Among
other manufactured items, prices of cement, lead ingot and some basic heavy inorganic
chemicals got dearer. During
the last few weeks, inflation rate has been below the RBI''s upper band of 5 per
cent for the current fiscal. However, the RBI is unlikely to cut the prime interest
rates at the plan review on October 30. The
Government, meanwhile, revised the inflation rate for the week ended August 18
to 3.99 per cent from 3.94 per cent.
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