Financial Daily from THE HINDU group of publications
Saturday, Sep 25, 2004
Agri-Biz & Commodities - Oilseeds & Edible Oil
Inflation marginally up on costlier edible oils
New Delhi , Sept. 24
THE annual wholesale price index-based inflation rate rose marginally to 7.87 per cent for the week ended September 11, mainly due to costlier manufactured products including some edible oils, according to data released by the Ministry of Commerce and Industry on Friday.
The year-on-year rate had gone up 7.81 per cent the previous week.
During the latest reported week, the wholesale price index (WPI) rose by 0.1 per cent to 189.2 points even as prices of most of the primary articles fell while that of the fuels remained unchanged.
The Primary Articles' group, which carries a weight of 22.02 per cent in the WPI basket, was down 0.3 per cent to 193.9 points mainly due to fall in the prices of food products and minerals, even as non-food items turned costlier.
The Fuel, Power, Light and Lubricants' group index stood firm at the previous week's level of 281.6 points.
The index of Manufactured Products' group was up by 0.2 per cent to 167 points mainly due to costlier food products, textiles, base metals, machinery and transport equipment.
The Food Articles' group index declined by 0.3 per cent to 190.3 points due to lower prices of fish-inland and maize (two per cent each) and urad, poultry chicken, moong and fruits and vegetables (one per cent each).
Prices, however, soared in the case of arhar (three per cent) and eggs, wheat and bajra (one per cent each).
The index for Non-Food Articles' group rose by 0.1 per cent to 196.7 points due to higher prices of coir fibre (seven per cent), fodder (three per cent), castor seed (two per cent) and raw tobacco (one per cent). Prices fell for raw rubber, copra and cottonseed (two per cent each) and linseed and safflower (one per cent each).
The Minerals' group index dropped by near three per cent to 274.3 points owing to cheaper magnesite (30 per cent), barytes (13 per cent), chromite and fire clay (10 per cent each), vermiculite (seven per cent) and iron ore and fluorite (three per cent each), while china clay became costlier by five per cent.
Food Products' group index rose by 0.7 per cent to 177.2 points due to costlier sooji and bread and buns (five per cent each), oil cakes (four per cent), atta (three per cent), maida, solvent extracted groundnut oil and imported edible oil (two per cent each) and gur (one per cent).
But prices fell for cattle feed (four per cent), sugar and sweet meat confectionary (three per cent), packed tea (two per cent) and rice bran oil (one per cent).
The Government revised upwards the point-to-point inflation to 7.61 per cent for the week ended July 17 as compared to the provisional figure of 6.52 per cent.
The WPI stood corrected 186.6 points during the beginning of third week of July as against the provisional 184.7 points.
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