Financial Daily from THE HINDU group of publications
Saturday, May 13, 2006
Agri-Biz & Commodities - Commodities
Inflation higher on costlier wheat, chicken
Costly & Cheap
Prices increased for zinc (21%), poultry (14%) & eggs (6%).
Rates declined for coir fibre (20%), PVC fittings (16%) & tea (9%).
New Delhi , May 12
The annual wholesale price index-based inflation rose 3.59 per cent during the week ended April 29, higher than the previous week's annual rise of 3.54 per cent.
The increase in year-on-year inflation rate was largely on account of higher prices of chicken, wheat, fruits and vegetables, according to data released by the Ministry of Commerce and Industry.
The Wholesale Price Index (WPI) for all commodities rose 0.1 per cent to 199 points during the latest reported week from 198.8 points of the previous week. The inflation rate was at 5.67 per cent during the corresponding week of the previous year.
On a disaggregated basis, the Primary Articles' group index rose 0.4 per cent to 195.4 points. The Fuel, Power, Light and Lubricants' group index remained unchanged at the previous week's level of 316.8 points. The Manufactured Products' group index also remained unchanged at last week's level of 173.9 points.
Rise in Poultry price
Among the Primary Articles' group, the index for food articles group rose 0.5 per cent to 198.2 points. Prices of poultry rose 14 per cent, while egg prices were up six per cent, followed by barley (three per cent), wheat (two per cent) and urad, fruits and vegetables and gram (one per cent each).
However, the prices of tea fell by nine per cent, moong and jowar two per cent each and pork, arhar and ragi moved down one per cent each. In the non-food articles' category, cottonseed became more expensive by two per cent, and copra, raw cotton and groundnut seed prices were higher by one per cent each. However, the prices of coir fibre declined 20 per cent, fodder by seven per cent, raw silk three per cent, raw jute two per cent and niger seed by one per cent.
PVC fitting prices slip
Among the Manufactured Products' group, leather and leather products witnessed a downfall of 2.2 per cent owing to lower prices of western footwear. Prices of PVC fitting and accessories slipped by 16 per cent while other board paper got dearer by 5 per cent.
Prices of zinc during the week shot up by 21 per cent and other aluminium material also saw an uptrend of 4 per cent.
In Machinery and Machine Tool category, powerloom automatic, cranes and power driven pumps prices shot up by four per cent, two per cent and one per cent, respectively.
Inflation growth stood revised at 3.86 per cent during the week ended March 3, from the provisional estimate of 4.02 per cent while the WPI was revised to 196.5 points from 196.8 points during the previous week.
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