Inflation rises to 12.44pc in India
New Delhi, August 14:
India’s annual rate of inflation swelled to 12.44 per cent for the week ended on August 2 as compared to 12.01 per cent the week before, goading the finance ministry to say this was a major disappointment.
“The rate of inflation for all commodities for the week ending on August 2 stands at 12.44 per cent, higher than the rate of 12.01 per cent reported last week,” the finance ministry said. “After being nearly stable for four weeks, this rise has come as a major isappointment,” the ministry said.
“The annual rate of inflation calculated on point-to-point basis stood at 12.44 per cent for the week ending on August 2,” stated the ministry of commerce and industry in the official data released today for the wholesale price index (WPI) for all commodities.
The index for food articles rose by 0.9 per cent due to higher prices of maize (four per cent), condiments and spices (three per cent), fruits and vegetables (two per cent). Non-food articles went up by 0.2 per cent.
The index for fuel, power, light and lubricants rose by 0.9 per cent due to higher prices of light diesel oil (16 per cent), bitumen and furnace oil (eight per cent each), and aviation fuel (three per cent).
The final WPI for all commodities stood at 236.5 for the week ended on June 7, as compared to 235.2 (provisional).
The annual rate of inflation based on final index, calculated on point-to-point basis stood at 11.66 per cent as compared to 11.05 per cent (provisional).
The finance ministry said that in the primary articles group, the annual point-to-point inflation increased to 11.43 per cent as compared to 10.32 per cent for the week before.
“In the commodity group of fuel and power, the rate of inflation has risen to 17.99 from 17.12 per cent.”