India's Primary Articles Weekly Inflation Rises
11/5/2009 5:40 AM ET
(RTTNews) -
A statement released by the Ministry of Commerce and Industry indicated that the annual rate of inflation for the week ended October 24, 2009 for Primary articles stood at 8.94%, compared to 8.67% in the preceding week. It was 11.73% for the same week In the preceding year.
The annual rate of inflation for the commodities in the broad group "Fuel, Power, Light and Lubricants, was unchanged from the previous week's level of minus 6.20%. The inflation rate stood at 13.59% for the corresponding week a year-ago.
As per the decision of the Cabinet Committee of Economic Affairs or CCEA, the weekly release of Wholesale Price Index or WPI will henceforth cover only the Primary Articles and Commodities in the broad group "Fuel, Power, Light & Lubricants".
The ministry said it would release next week the monthly WPI covering all commodities for the last month.
Primary articles
As per the provisional data released by the ministry, the major Primary articles group, having a weightage of 22.0%, declined 0.1% from the previous week.
Among the sub-groups, the index for the "Food Articles" category declined 0.3%, due to lower prices of fish-marine, fruits & vegetables, barley as also jowar. However, the prices of moong, wheat and bajra and condiments and spices, as also gram moved up.
The index for 'Non-Food Articles' group rose by 0.2% due to higher prices of raw silk, raw rubber, castor seed, rape and mustard seed, raw cotton, as also copra, whereas that of raw wool and linseed and groundnut seed declined.
The build-up inflation for the primary articles during this fiscal year so far increased to 9.64% from 5.83% in the corresponding period last year. The 52-week average inflation for the week ended October 24 was 8.17%, the data showed.
Fuel, Power, Light & Lubricants
The annual rate of inflation for the group, having a weightage of 14.23%, for the reported week was unchanged from the previous week's level of minus 6.20%. It was 13.59% during the corresponding week of the previous year.
The index for this group was unchanged at its previous week's level of 344.9.
The build-up inflation for this group during this fiscal year so far fell to 7.45% from 7.58% in the corresponding period last year. The 52-week average inflation for the week ended October 24 was minus 5.39, as per data.
With the shortfall in kharif production now pegged at 21 million tonnes, Agriculture Minister Sharad Pawar said the inflation in food prices was worrying, and that there was clear demand-supply gap in commodities like rice, which has been worst hit by this year's drought.
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