Financial Daily from THE HINDU group of publications
Saturday, Jul 31, 2004
Industry & Economy
Inflation remains unchanged at 6.52 pc
New Delhi , July 30
AFTER rising for three straight weeks, inflation remained unchanged at 6.52 per cent during the week ended July 17.
This was despite prices of primary articles and manufactured products showing a rising trend, according to the data released by the Ministry of Commerce and Industry here on Friday.
According to the data released here, although the inflation level, measured in terms of the Wholesale Price Index (WPI), remained constant during the week ended July 17, WPI rose by 0.1 per cent to 184.7 mainly on account of a 0.1 per cent increase in both prices of primary articles and manufactured products.
Fuel prices, however, dipped by 0.2 per cent. The index for primary articles surged to 185.6 from 185.1, mainly due to a 1.1 per cent rise in non-food articles, even as mineral prices dipped by 1.1 per cent and food product prices remained constant. The fuel, power, light and lubricants index declined to 274.4 from 274.9 due to fall in prices of bitumen (3 per cent), naphtha (2 per cent) and furnace oil (1 per cent).
Manufactured products index rose to 164.4 from 164.3 mainly due to rise in prices of textiles, tobacco, machinery and machine tools and rubber.
According to the data, the food articles group index remained unchanged at previous week's level of 183.3 although prices rose for bajra (5 per cent), maize (3 per cent), jowar, arhar, fish-inland (2 per cent each), barley, ragi, moong, urad and fish-marine (1 per cent each).
Eggs, however, were cheaper by 4 per cent, tea (3 per cent) and fruits, vegetables, condiments and spices (1 per cent each). The non-food articles group index rose to 194.6 from 192.5 mainly due to higher prices of sunflower (10 per cent), niger seed (6 per cent), castor seed (5 per cent), soyabean (3 per cent), rape and mustard seed, raw cotton, raw wool (1 per cent each). Only safflower was cheaper by 2 per cent.
Mineral group index dipped to 146.9 from 148.5 due to cheaper barytes (27 per cent), chromites (14 per cent), bauxite (9 per cent) and vermiculite (5 per cent). However, magnesite was costlier by 21 per cent.
The chemicals and chemical products group index fell to 178.8 as soda ash became cheaper by 3 per cent. Textiles group index rose to 136.7 due to costlier cotton yarn cones (5 per cent), nylon filament yarn (4 per cent), viscose staple fibre (3 per cent) and polyester yarn (1 per cent).
The final WPI for the week ended May 22 stood at 182.2, as against the provisional figure of 181.9 while final inflation was at 5.20 per cent as compared to the provisional 5.02 per cent.
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