Food Inflation up by 16.44%; Milk, Fruits prices up

Today, the Wholesale Price Indices for the week ended 18th September, 2010 was released.

PRIMARY ARTICLES (Weight 20.12%)

The index for this major group rose by 1.2 percent to 180.9 (Provisional) from 178.7 (Provisional) for the previous week.

The annual rate of inflation, calculated on point to point basis, stood at 18.31 percent (Provisional) for the week ended 18/09/2010 (over 19/09/2009) as compared to 16.80 percent (Provisional) for the previous week (ended 11/09/2010).

The groups and items for which the index showed variations during the week are as follows:-

The index for ‘Food Articles’ group rose by 0.8 percent to 179.9 (Provisional) from 178.5 (Provisional) for the previous week due to higher prices of arhar, fruits & vegetables and pork (3% each), barley, jowar, gram and maize (2% each) and fish-marine, masur and milk (1% each). However, the prices of fish-inland, rice and condiments & spices (1% each) declined.

The index for ‘Non-Food Articles’ group rose by 3.6 percent to 160.0 (Provisional) from 154.4 (Provisional) for the previous week due to higher prices of raw cotton (20%), castor seed (8%), raw silk and coir fibre (4% each), mesta (3%), copra (2%) and gingelly seed (sesamum) and tobacco (1% each). However, the prices of sunflower (8%) declined.

FUEL & POWER (Weight 14.91%)

The index for this major group remained unchanged at its previous week’s level of 147.6 (Provisional).

The annual rate of inflation, calculated on point to point basis, stood at 10.73 percent (Provisional) for the week ended 18/09/2010 (over 19/09/2009) as compared to 11.48 percent (Provisional) for the previous week (ended 11/09/2010).

Build up inflation over the week, financial year end and over the year is given below for some important items.