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The annual rate of inflation for the week ended November 14 this year, for primary articles rose to 11.04% from the 9.94% in the preceding week. It was 12.66% for the same week in the preceding year. All this was revealed in data released by the Ministry of Commerce and Industry.
The annual rate of inflation for commodities in the broad group, "Fuel, Power, Light and Lubricants", remained unchanged at its previous week's level of minus 1.51%. The inflation rate was 6.81% for the corresponding week a year ago.
Primary articles
The data indicate the index for this group, having a weightage of 22.0%, rose by 1.2% from the preceding week.
Among the sub-groups, the index for the "Food Articles" category rose by 1.69%, due to the higher prices of urad and poultry chicken (15%each), eggs (8%), moong (6%), arhar (5%), fruits and vegetables (3%), milk and wheat (1% each). However, the prices of barley (2%) declined.
The index for the 'Non-Food Articles' group rose by 0.3%, due to the higher prices of raw silk (3%), fodder and groundnut seed (2% each) and cottonseed(1%), whereas that of niger seed and tobacco (3% each) declined.
Inflation for primary articles during this fiscal year so far dropped to 11.04% from the 12.66% in the corresponding period last year. The 52-week average inflation for the week ended November 14 was 8.02%, the data showed.
On an year-on-year basis, the rate of inflation for the 'Food Articles" group increased to 15.58% from the 11.33% last year, on the back of potato prices that were more than doubled in the past one year. Besides, prices of pulses and onion rose more than 25% in the wholesale market, said the data.
The rate of inflation during the year for the 'Non-Food Articles" category was down significantly to 1.92% from the 11.30% a year ago. The 52-week average inflation for the week ended November 14 was 1.27%.
Fuel, Power, Light & Lubricants
The index for this major group, with a weightage of 14.23%, for the week under review was unchanged from its previous week's level of 344.7.
On an year-on-year basis, the index for the 'Fuel, Power, Light & Lubricants' group was minus 1.51%, compared to a positive growth of 6.81% last year. The 52-week average inflation for the week ended November 14 was minus 5.83%.
Reserve Bank of India and the Indian government expected the annual inflation rate for all commodities might rise to 6-6.5% by next March, while the Prime Minister's Economic Advisory Council, headed by retired RBI Governor Rangarajan, has pegged it at 6%.
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