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Home > Business > Business Headline > Report

Inflation rises to 3.22 per cent

BS Economy Bureau in New Delhi | January 06, 2003 12:09 IST

The annual inflation rate rose to 3.22 per cent for the week ended December 22 as compared to 3.15 per cent the previous week. The inflation rate for the corresponding period was 2.08 per cent in the previous year.

The wholesale price index fell 0.1 per cent to 166.9 during the reported week. The index was 161.7 in the corresponding period in 2001.

The final WPI for the week ended October 26 stood corrected at 167.5 as against the provisional figure of 167.3 and the final inflation was at 3.14 per cent as compared to provisional mark of 3.02 per cent.

A 0.5 per cent fall in the prices of food articles and 0.2 per cent in non-food items pushed down the index for the primary articles' group by 0.5 per cent to 173.8 from 174.6. The index for this group was 168.8 in the previous year.

The food articles group became cheaper due to fall in prices of vegetables (13 per cent), maize, gram, urad and condiments and spices (1 per cent each), while prices rose for fish-marine (13 per cent), fruits, bajra, barley, eggs and meat (2 per cent each).

Non-food articles became cheaper because prices went down for sunflower oil (6 per cent) and raw cotton (1 per cent), even as there was 2 per cent hike in the price of linseed and 1 per cent each in gingerly seed and fodder. Fuel, power, light and lubricants' group index was firm at 238.8. The index was 181.1 in the previous year.

The index for the manufactured products group was up 0.1 per cent to 148.4 as compared to 144.2 a year ago. Food products' group index rose 0.4 per cent to 151.5 due to costlier maida (2 per cent) and atta, gur, solvent-extracted groundnut oil, rape and mustard oil and oil cakes (1 per cent each).

The index for the textiles group became costlier by 0.2 per cent to 123.6 due to higher prices of hessian and sacking bags (4 per cent) and cotton yarn-hanks and hessian cloth (2 per cent).

Non-metallic mineral products group index rose 0.1 per cent to 145 on account of marginal increase in the price of cement. The index for basic metals, alloys and metal products group was up 0.1 per cent to 146.2 owing to 4 per cent hike in the price of zinc ingots.


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