Inflation touches 44-month high of 7.83 pc

Font Size -

Reuters

Posted online: Friday , May 16, 2008 at 11:11:57

'India to reclaim Mughal-age economic au...'Winter breezes in for Indian economy, b...Inflation surges to 12.44 per cent Inflation at 12.01% as edibles cost more

Inflation rose to near 44-month high of 7.83 per cent for the week ended May 3, against 7.61 per cent in the previous week, mainly on account of rising prices of essential food items and some manufactured products.

Inflation was last above this level at 7.87 per cent on September 11, 2004 as per provisional figures and 7.86 per cent for the week ended September 18, 2004, according to final figures.

The WPI based index inflation stood at 5.74 per cent in the corresponding week a year ago.

During the week, prices of food articles like fruits and vegetables, spices, coffee, masoor rose, compounding worries of the government and RBI amid a slowdown in industrial growth.

Among food articles, fruits and vegetables went up by 3 per cent, coffee 6 per cent, maize 4 per cent, spices and masoor by 1 per cent each. Even in manufactured category, prices of food articles like atta, coconut oil and khandsari went up.

However, prices of cement, iron and steel declined, giving some respite to the government.

Prices of some industrial fuels like naphtha, furnace oil and light diesel oil also shot up.

Post Comments

Name*		Email ID*
Subject*		Country*
Message*	Characters remaining

TERMS OF USE: The views represented here are not neccesarily endorsed by www.expressindia.com and its allied websites. All messages will be moderated and no message that has inflammatory, abusive, derogatory language or any language deemed unfit for publication by the editor will be displayed. Though it will be endeavoured that as many messages as possible be displayed, there will be time lag between the submission and publication of the messages. The website reserves the right to publish or reject any message.

I agree to the terms of use.

Comments - 3

Inflation by Varinder Sarin on 16 May 2008

Soaring inflation is a gift of great economist Mr. Manmohan Singh, always boasting Finance Minister and the king manker Mrs. Sonia Gandhi. What does the fraudulent Left has to say in this regard?

Reply | Forward | Report Abuse

Inflation by Subbu on 16 May 2008

The prices of items going up are those being produced in India. I am not sure if there is a glut in any of them or if there is a trigger for price rise due to Oil or external factors, in the case of agricultural produce. The govt. is not able to control prices of even foodstuff. Obviously, they are either sleeping over it or turning the other way for hoarders and cartels to exploit the situation. It is really pathetic to see that the steel industry raised rates even after the govt was pleading with them on reducing the same. This possibly the weakest govt in the history of Independent India.

Reply | Forward | Report Abuse

Inflation is higher by Manoj on 16 May 2008

As a common man, I couldn't feel the dip in inflation which happened last week(s). I hope figures are not skewed for political compulsions. We must not artificially freeze petroleum prices to skew inflation figures either.

Reply | Forward | Report Abuse

No one wants harakiri !! by Yashu on 16 May 2008

Inflation figures are consistently rising, last week its 7.61% so i dont understand which manipulation ur talking about.. as fas as govnt efforts are concerned, they are doing all there bit to rein in the prices bcoz in the election year no govnt/political party wanna commit harakiri/political suicide...may be there are certain factors which are not under govt control ...

Reply | Forward | Report Abuse