Business Daily from THE HINDU group of publications
Saturday, Sep 02, 2006
Agri-Biz & Commodities - Commodities
Inflation dips marginally on lower energy prices
Up & down
The primary articles group index rose 0.7 per cent to 205 points.
The fuel, power, light and lubricants group index declined marginally to 328.3 points.
The chemicals and chemical products group index rose 0.1 per cent to 195.6 points.
New Delhi , Sept. 1
The annual wholesale price index-based inflation rose 4.91 per cent during the week ended August 19, marginally lower than the previous week's annual rise of 4.92 per cent. The dip in the year-on-year inflation rate was due to a slight decline in energy prices, Government data showed on Friday.
During the latest reported week, the wholesale price index (WPI) for all commodities ended at 205.1 points, as against 195.5 points during the same week last year. The inflation rate was 3.71 per cent during the corresponding week of the previous year.
On a disaggregated basis, the primary articles group index rose 0.7 per cent to 205 points due to increase in prices of food, non-food articles and minerals. The index was at 194.9 points a year ago.
The fuel, power, light and lubricants group index declined marginally to 328.3 points due to lower prices of furnace oil. It was at 304.1 points a year ago. The manufactured products group index was up 0.2 per cent to 177.7 points due to rise in prices of textiles, chemicals, non-metallic mineral and basic metals. It was at 171.5 points a year ago.
Wheat, spices up
Among the primary articles' group, the food articles group index was up by 0.7 per cent to 206.2 points due to higher prices of fruits and vegetables and wheat (2 per cent each), gram, milk, condiments and spices, bajra and maize (1 per cent each), but poultry chicken was cheaper by nine per cent.
The index for non-food articles group index rose 0.6 per cent to 185.9 points due to higher prices of raw cotton (4 per cent), copra (2 per cent), rape and mustard seed (1 per cent).
Raw rubber dips
However, prices fell in the case of raw rubber (3 per cent), cottonseed and castor seed (2 per cent each) and gingelly seed (1 per cent). The minerals group index was up 1.1 per cent due to a spurt in prices of manganese ore (42 per cent), fire clay (21 per cent), magnesite (3 per cent) and china clay (1 per cent).
Among the manufactured products' group, the food products group index declined 0.3 per cent to 180.3 points due to lower prices of imported edible oil (5 per cent), oil cakes (3 per cent) and rice bran oil (2 per cent). However, prices moved up for bread and buns (10 per cent) and hydrogenated vanaspati, coconut oil, rape and mustard oil (1 per cent each).
The index for textiles group rose 0.2 per cent to 131.4 points due to higher prices of viscose staple fibre (3 per cent) and hessian cloth (1 per cent), but tyre cord fabric was cheaper by one per cent.
The chemicals and chemical products group index rose 0.1 per cent to 195.6 points due to higher prices of polystyrene (5 per cent), ayurvedic medicine liquids (3 per cent) and syrup and acid (1 per cent each), even as caustic soda became cheaper by one per cent. A four per cent increase in asbestos cement corrugated sheets pushed up the non-metallic mineral products group index by 0.1 per cent to 188.8 points.
Metal products gain
The base metals, alloys and metal products group index was up 0.7 per cent to 232.2 points due to higher prices of copper bars and rods (24 per cent), ferro silicon (9 per cent), tin boxes/containers (4 per cent), barrels (2 per cent) and basic pig iron, foundry pig iron and aluminium foils (1 per cent each). However, prices declined for other iron steel and zinc ingots (3 per cent each), steel sheets, plates and strips (1 per cent).
The final inflation figure for the week ended June 24 remained unchanged at the provisional level of 4.84 per cent and WPI at 203.6 points.
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