RTTNews - India's inflation rate for the week ended May 16 was unchanged at its previous week's level of 0.61%. The inflation rate stood at 8.66% for the corresponding week of the preceding year, say data released Thursday by the Ministry of Commerce and Industry.

Going by the provisional figures, the wholesale price index or WPI for all- commodities rose by 0.1% to 232.2 from 232.00 for the preceding week.

Inflation, based on the wholesale price index, remained flat from the preceding week, despite increase in the prices of barites, tea, aviation fuel, furnace oil and some manufactured products covered under all-category groups, and drop in the prices of pulses and fruits and vegetables.

The final estimate of inflation for the week ended March 21 was enhanced to 0.84% from the earlier provisional figure of 0.31%.

The main index for primary articles rose marginally to 256.1 from 256.0, due to the higher prices of barites, tea, barley, raw cotton, felspar, bajra, moong, urad linseed, asbestos, as also fluorite. However, the prices of raw rubber, copra, gram, fruits and vegetables, jowar, and niger seed declined.

The index representing fuel, power, light and lubricants rose by 0.1%, due to higher prices of aviation turbine fuel and furnace oil.

The index of Manufactured Products rose by 0.1%, due to the higher prices of bagasse, unrefined oil, malted food, potable country liquor, imported edible oils, khandsari, nylon filament yarn, viscose filament yarn, as also cotton yarn-cones, whereas those of rice bran oil, cottonseed, rectified spirit, cotton yearn-hanks, polyester staple fibre and bicycles dropped.

Reserve Bank of India estimates inflation to be around 4% by next March-end.

Union Finance Minister Pranab Mukherjee said on Tuesday that Prime Minister Manmohan Singh's government, which this month won a second five-year term, planned to unveil its vision for the economy, when it would present its full-year budget in the first week of July.

The index of Manufactured Products rose by 0.1%, due to the higher prices of bagasse, unrefined oil, malted food, potable country liquor, imported edible oil, khandsari, nylon filament yarn, viscose filament yarn, as also cotton yarn-cones, whereas those of rice bran oil, cotton seed, rectified spirit, cotton yearn-hanks, polyester staple fibre and bicycles dropped.

Reserve Bank of India estimates inflation to be around 4% by next March end.

India's Finance Minister Pranab Mukherjee said on Tuesday that Prime Minister Manmohan Singh's government, which this month won a second five-year term, plans to unveil its vision for the economy, when it presents its full-year budget in the first week of July.

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