(RTTNews) - A statement of the Ministry of Commerce and Industry says that the annual rate of inflation for the week ended November 7 this year, for primary articles rose to 9.94% from the 9.16% in the preceding week. It was 12.28% for the same week in the preceding year.

The annual rate of inflation for the commodities in the broad group, “Fuel, Power, Light and Lubricants”, was minus 1.51%, compared to the minus 1.71% for the previous week. The inflation rate was 7.20% for the corresponding week a year-ago.

Primary articles

The data indicate the index for this group, having a weightage of 22.0%, rose by 0.8% from the previous week.

Among the sub-groups, the index for the “Food Articles” category rose by 0.9%, due to the higher prices of urad, mutton, moong, condiments and spices, besides barley, wheat, bajra, milk, gram, fish-inland, as also eggs. However, those of jowar, poultry chicken, and fruits and vegetables declined.

The index for the ‘Non-Food Articles’ group rose by 0.7%, due to the higher prices of raw jute, fodder, raw cotton, castor- seed, as also copra, whereas that of soyabean and raw rubber dropped.

Inflation for the primary articles during this fiscal year so far dropped to 9.94% from the 12.28% in the corresponding period last year. The 52-week average inflation for the week ended November 7 was 8.07%, the data showed.

On an year-on-year basis, the rate of inflation for the ‘Food Articles” group increased to 14.55% from the 10.07% last year, while for that of the ‘Non-Food Articles” category, it was 0.59%, significantly down from the 13.30% a year ago. The 52-week average inflation for the week ended November 7 was 1.44%.

Fuel, Power, Light & Lubricants

The index for this major group, having a weightage of 14.23%, for the week under review rose by 0.1% from the previous week, due to the higher prices of aviation turbine fuel and furnace oil.

On an year-on-year basis, the index for the ‘Fuel, Power, Light & Lubricants’ group stood at minus 1.51%, compared to a positive growth of 7.20% last year. The 52-week average inflation for the week ended November 7 was minus 5.69%.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved

Posted in Categories: Economy, Releases, Stocks.

Subscribe by RSS Subscribe by Email