Friday, March 7, 2008

Inflation breaches 5% mark after 10 months

Wholesale prices-based inflation rate rose to a ten-month high of 5.02 per cent for the week ended February 23, as food and some manufactured products turned costly.

Inflation rate for the previous week was at 4.89 per cent and was last above five per cent on May 19, 2007 (5.06 per cent).

The Wholesale Price Index-based inflation rate stood at 6.20 per cent in the corresponding week a year ago.

During the week under review, prices of fish marine, mutton, fruits, vegetables and milk went up, while the rates of arhar and moong declined. However, the index for fuel, power, light and lubricants remained unchanged. The government had raised petrol and diesel prices on February 14.

Among manufactured products imported edible oil, vanaspati, coconut oil, mustered oil, got expensive.

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