The index for primary articles group rose by 0.4 % to 291.2 from 289.9 for the previous week. The annual rate of inflation, calculated on point-to-point basis, stood at 13.93 % for the week ended 24 April 2010 over 6.77 % during the corresponding week 25 April 2009.
The index for 'Food Articles' group declined by 0.1% to 292.3 from 292.7 for the previous week due to lower prices of fish-inland, fruits & vegetables, barley and wheat (1% each). However, the prices of tea (13%) and maize, gram and eggs (1% each) moved up. Annual wholesale food prices inflation rose 16.04% in the week ended 24 April, lower than 16.61% in the previous week.
The index for 'Non-Food Articles' group remained unchanged at its previous week's level of 257.5 (Provisional). However, the prices of mesta, caster seed and raw rubber (2% each) have increased whereas there was decline in prices of fodder (13%) and niger seed (2%).
The index for 'Minerals' group rose by 12.0% to 684.0 (Provisional) from 610.9 (Provisional) for the previous week due to higher prices of feldspar (17%), iron ore (15%), asbestos (11%) and steatite (8%). However, the prices of magnesite (22%) and barytes (12%) declined.
The index for fuel, power, light and lubricants group has remained unchanged at it's previous week's level of 365.1. The annual rate of inflation, calculated on point to point basis, has also remained unchanged at it's previous week's level of 12.69% and it was -5.54% during the corresponding week (ended 25 April 2009) of the previous year.
In a measure to increase the supply of wheat and rice, the agriculture minister Sharad Pawar has decided to release an additional 500,000 tonnes of wheat and rice every month for sale under the public distribution system, or PDS for the next six months. The move is aimed at restraining prices and curbing inflation.
(bloombergutv.com)
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