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Inflation spikes to 5.60 per cent

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Agencies

Posted: Jan 22, 2009 at 1245 hrs IST
Inflation

New Delhi After declining for ten consecutive weeks, inflation rose to 5.6 per cent due to higher prices of edible items like fruits and vegetables, caused mainly due to the truckers' strike.

Inflation, measured by movements in wholesale prices, rose by 36 basis points for the week ended January 10 from 5.24 per cent in the previous week. It was 4.36 per cent a year ago.

The increase in the rate of price rise, noticed after a gap of more than two months, was due to an eight-day nation-wide strike by truck operators, which began on January 5.

Among the items that became expensive during the week were fruit and vegetables (9 per cent), wheat (2 per cent) and spices, milk, ragi and rice (1 per cent each).

The index of primary articles increased by 2.2 per cent.

Though the index of fuel items remained unchanged during the week, the manufactured items index rose by 0.2 per cent.

In the manufactured food products category, oil cakes became expensive by 8 per cent, canned fish by 43 per cent, and imported edible oil and coconut oil by 7 per cent each.

Items that reported decline in prices include unrefined oil (8 per cent) and groundnut oil (1 per cent). The prices of rubber and plastic products too went down marginally.

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Govt Promises by ravindra on 22 Jan 2009

Again the Inflation Ghost haunting the common man after 3 months of successive -ve drop.Not alarming if the government put resources to check the wholesale price market with caution.With Elections round the corner,Economy mudgling in recession,the common man cannot face another anathema with inflation surging on the other hand.

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