By Siddharthan Meganathan: Subscribe to Siddharthan's RSS feed
October 7, 2010 7:52 AM EDT
India's annual wholesale price index (WPI) for food articles stood at 16.24 percent for the week ended September 25, 2010, due to the lower price of potatoes; however, the inflation rate increased on a year-on-year basis, according to a government release on Thursday.
The rate of inflation for the 52-week average inflation for the week ended September 25, 2010, was at 18.54 percent. The rate of inflation year on year basis increased to 16.24 percent from 12.85 percent against to the corresponding period.
The index for food articles group declined by 0.1 percent to 179.7 from 179.9 for the previous week due to lower prices of moong (3%), fish-inland, fish-marine, masur and gram (2% each) and maize and wheat (1% each). However, the prices of jowar and ragi (2 % each) and barley, beef & buffalo meat, fruits & vegetables, tea and urad (1% each) moved up.
The WPI for primary articles rose by 0.1 percent to 181.0 for the week ended September 25, 2010, from 180.9 for the previous week.
The annual rate of inflation for primary articles, calculated on point to point basis, stood at 18.53 percent for the week ended September 25, 2010, as compared to 18.31 percent for the previous week.
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The index for non-food articles group rose by 0.6 percent to 161.0 from 160.0 for the previous week due to higher prices of sunflower (9%), gaur seed (8%), fodder (5 %), linseed and copra (3% each) and groundnut seed, gingelly seed (sesamum) and cotton seed (1% each). However, the prices of mesta (4%), castor seed (2%) and raw silk and raw rubber (1% each) declined.
The WPI for fuel and power remained unchanged at its previous week's level of 147.6.
The annual rate of inflation for fuel and power, calculated on point to point basis, has remained unchanged at its previous week’s level of 10.73 percent for the week ended 25/09/2010 over to the previous year in same period.
India's annual inflation rate, as measured by the new series of the wholesale price index with 2004-05 as the base year, slowed to 8.51 percent in August from 9.78 percent in the previous month.
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