Inflation rate comes down to 3.79% for the week ended 25th August
The official Wholesale Price Index for 'All Commodities' (Base: 1993-94 = 100) for the week ended 25th August 2007 rose remained unchanged at its previous week level of 213.6 (Provisional).
The annual rate of inflation, calculated on point to point basis, stood at 3.79 percent for the week ended 25/08/2007 (over 26/08/2006 ) as compared to 3.94 percent (Provisional) for the previous week. The annual rate of inflation stood at 5.27 percent as on 26/08/2006 i.e. a year ago. The annual rate of inflation declined due to the larger base of last year.
The index for 'Food Articles' group declined by 0.2 percent to 223.3 (Provisional) from 223.7 (Provisional) for the previous week due to lower prices of maize, fish-marine, wheat and fruits & vegetables (1% each). However, the prices of moong, condiments & spices and eggs (1% each) moved up.
The index for 'Non-Food Articles' group rose by 0.1 percent to 209.9 (Provisional) from 209.7 (Provisional) for the previous week due to higher prices of sunflower (5%) and raw cotton (3%). However, the prices of raw rubber (11%), raw silk (4%), castor seed and soyabean (2% each) and rape & mustard seed, copra and raw jute (1% each) declined.
Central Statistical Organisation revises it inflation figures after two months of releasing the provisional figures. For the week ended 30/06/2007, the final wholesale price index for 'All Commodities’ (Base: 1993-94=100) stood at 212.8 as compared to 212.5 (Provisional) and annual rate of inflation based on final index, calculated on point to point basis, stood at 4.42 percent as compared to 4.27 percent (Provisional) reported earlier.
However, Union Finance Minsiter, Mr. Chidambaram told reporters that outlook on inflation is of caution, given that international crude oil prices have reached 74 dollars per barrel.
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