The Hindu Business Line : Cheaper food items keep inflation rate on leash

New Delhi, Feb 15 The annual Wholesale Price Index (WPI) based inflation rose 4.07 per cent for the week ended February 2, marginally lower than the annual rise of 4.11 per cent reported during the previous week.

Cheaper fuel

The dip in the year-on-year inflation rate was primarily on account of a fall in prices of food items including fruits, vegetables and pulses, besides some fuel items and manufactured products, according to Government data released on Friday.

Inflation stood at 6.58 per cent during the corresponding week of the previous year.

The Wholesale Price Index of all commodities was down to 217.4 points from 217.6 points a week ago.

Fish costly

On a disaggregated basis, the Primary Articles group index remained unchanged at its previous week’s level even as the index for ‘Food Articles’ group declined by 0.2 per cent due to lower prices of fruits and vegetables (3%) and arhar, masur and condiments and spices (1% each).

However, the prices of fish-marine (9%), jowar (2%) and maize (1%) moved up.

The index for the Non-Food Articles group rose by 0.6 per cent due to higher prices of sunflower (5%), soyabean and nigerseed (4% each), castorseed (2%) and groundnutseed and copra (1%each). However, the prices of linseed (3%) and fodder (1%) declined.

Furnace oil cheaper

The Fuel, Power, Light and Lubricants group declined by 0.1 per cent due to lower prices of furnace oil (3%) and aviation turbine fuel and naphtha (2% each). However, the prices of light diesel oil (5%) and bitumen (3%) moved up.

Food products slip

The Manufactured Products group index declined by 0.1 per cent as the index for ‘Food Products’ group declined by 0.9 per cent due to lower prices of blended tea leaf grade (13%).

The index for ‘Textiles’ group declined by 0.5 per cent due to lower prices of synthetic yarn (7%).

Rubber products

The index for ‘Rubber and Plastic Products’ group rose by 0.1 per cent

The index for ‘Chemicals and Chemical Products’ group rose by 0.05 per centThe index for ‘Non-Metallic Mineral Products’ group declined by 0.1 per cent. The index for ‘Base Metals Alloys and Metal Products’ group rose by 0.4 per cent due to higher prices of ordinary casting and bolts and nuts (6% each), lead ingots and bars and rounds (5% each), foundry pig iron and basic pig iron (4% each)

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