Indian inflation rate eases to 4.07 pc
Sunday, 17 February 2008
NEW DELHI, Feb 16 (PTI): Easing prices of food items like fruits, vegetables and pulses, and jet fuel helped cool inflation rate growth to 4.07 per cent for the week ended February 2.
The wholesale price index-based inflation rate was 4.11 per cent in the previous week and 6.58 per cent week in the year- ago period.
Although inflation remained below Reserve Bank of India's forecast of close to 5 per cent for this fiscal, the central bank had Friday said that the rate was high by global standards and needs to be brought down further.
The RBI's objective has been to ensure liquidity, while still keeping inflation and interest rates low, he had said.
Prime Minister Manmohan Singh today said keeping inflation under check has been an important policy stance of his government to ensure inclusive growth.
As such it is important to ensure that the poor are not adversely affected by high inflation, particularly of basic items of consumption, he added.
During the week, prices of fruits and vegetables got cheaper by three per cent, arhar, masur and condiments and spices declined by one per cent each.
At the same time, prices of fish-marine shot up by nine per cent, jowar by two per cent and maize by one per cent. Food products like sunflower, soyabean, groundnut seed were dearer by five per cent, four per cent and one per cent respectively.
In the fuel, power, light and lubricants category, prices of furnace oil declined by three per cent, while aviation turbine fuel and naphtha fell by two per cent each. However, light diesel oil moved up 5 per cent and bitumen by three per cent.
Among manufactured products, prices of blended tea leaf softened by 13 per cent, oil cakes by five per cent, and ghee and maida by one per cent each.
At the same time, khandsari as well as bread and buns became costlier by two per cent each. Bran oil and gur and packed tea also moved up by one per cent.
Elsewhere, prices of synthetic yarn dipped by seven per cent, steel furniture by eight per cent, copper bars and rods by four per cent.
However, safety matches were expensive by five per cent, decorative laminates by two per cent, bolts and nuts by six per cent, foundry and basic pig iron by four per cent, steel sheets, plates and strips by three per cent.
The wholesale price index-based inflation rate was 4.11 per cent in the previous week and 6.58 per cent week in the year- ago period.
Although inflation remained below Reserve Bank of India's forecast of close to 5 per cent for this fiscal, the central bank had Friday said that the rate was high by global standards and needs to be brought down further.
The RBI's objective has been to ensure liquidity, while still keeping inflation and interest rates low, he had said.
Prime Minister Manmohan Singh today said keeping inflation under check has been an important policy stance of his government to ensure inclusive growth.
As such it is important to ensure that the poor are not adversely affected by high inflation, particularly of basic items of consumption, he added.
During the week, prices of fruits and vegetables got cheaper by three per cent, arhar, masur and condiments and spices declined by one per cent each.
At the same time, prices of fish-marine shot up by nine per cent, jowar by two per cent and maize by one per cent. Food products like sunflower, soyabean, groundnut seed were dearer by five per cent, four per cent and one per cent respectively.
In the fuel, power, light and lubricants category, prices of furnace oil declined by three per cent, while aviation turbine fuel and naphtha fell by two per cent each. However, light diesel oil moved up 5 per cent and bitumen by three per cent.
Among manufactured products, prices of blended tea leaf softened by 13 per cent, oil cakes by five per cent, and ghee and maida by one per cent each.
At the same time, khandsari as well as bread and buns became costlier by two per cent each. Bran oil and gur and packed tea also moved up by one per cent.
Elsewhere, prices of synthetic yarn dipped by seven per cent, steel furniture by eight per cent, copper bars and rods by four per cent.
However, safety matches were expensive by five per cent, decorative laminates by two per cent, bolts and nuts by six per cent, foundry and basic pig iron by four per cent, steel sheets, plates and strips by three per cent.