India's annual inflation rate for all commodities, based on the new series of WPI (Wholesale Price Index), for March rose to 8.98 per cent from 8.31 in the preceding month, reflecting higher prices of cereals, fruits and rice and some manufactured goods. However, the rate of inflation was lower than the 10.23 per cent reported in the corresponding month last year, data say.
The rate of headline inflation for the reported month was well above the Reserve Bank of India or RBI estimate of eight per cent.
Build-up inflation during the current fiscal so far declined to 8.98 per cent from 10.23 in the corresponding period last year, the data showed.
Going by provisional figures, the WPI for 'all commodities' for March rose by 1.40 per cent to 148.0 from 146.0 in the previous month.
Final annual rate of inflation for January (based on the 2004-05 base year) revised upwards to 9.35 per cent from the earlier provisional figure of 8.23 per cent.
Primary Articles
Index for the 'Primary Articles' group fell by 0.21 per cent from the preceding month of February.
The groups and items for which the index showed variations during the month were:
Index for the 'Food Articles' group fell by 0.94 per cent from the previous month, due to lower prices of condiments and spices, tea, mutton, gram, moong, egg, masur, milk, arhar, wheat, barley and ragi. However, the prices of maize, coffee, bajra, fish-marine and chicken moved up.
Index under the 'Non-Food Articles' category rose by 2.22 per cent from February, due to the higher prices of logs and timber, gaurseed, raw cotton, groundnutseed, fodder, nigerseed, sugarcane and cottonseed, while those of raw silk, flowers, castorseed, sunflower, raw rubber, gingellyseed, raw hides, coir fibre and linseed declined.
Index under the 'Minerals' category declined by 0.42 per cent, on lower prices of zinc concentrate, steatite and copper ore. However, the prices of sillimanite and iron ore increased.
Fuel, Power
Index for fuel, power, light and lubricants increased by 3.87 per cent from the previous month on higher prices of aviation turbine fuel, furnace oil, naphtha, light diesel oil and bitumen.
Manufactured Products
The prices of certain items, including rice bran oil, khandsari, cigarette, knitted cotton yarn, Bleached cotton yarn, wooden crates, packing box, paper cone and tube, paper rolls, leather handbags/wallets, synthetic rubber compound, polyester chips. Organic acid, fatty alcohol, hume pipes, spun pipes, silver, nuts, loader, pneumatic tools, crankshaft and axle pushed up the index for 'Manufactured Products' to 1.37 percent.
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