Inflation touches 5.64%

By agencies   |   Friday, 29 April 2005, 07:00 Hrs
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NEW DELHI:Inflation continued to remain at four months high of 5.64 percent during the week ended April 16 even as Finance and Petroleum Ministries are yet to find out ways to affect an imminent price hike in fuel products.

The point-to-point Wholesale Price Index (WPI) inflation rose by 0.16 percent from 5.48 percent in the previous week mainly owing to costlier food and manufactured products, even as minerals became cheaper. It was 4.68 percent a year-ago period.

Observing that the recent surge in price level was more due to base effect, Finance Minister P Chidambaram said inflation was under control but oil continues to be a concern, and promised steps to maintain price stability.

The WPI was up by 0.3 percent to 191.2 points due to an all round increase in the indices of all the major commodity groups -- primary, fuels and manufactured products even though international oil prices started falling. It was 181 points in the previous year period.

Government revised upwards inflation to 4.89 percent during the week ended February 19 as compared to provisional estimate of 4.83 percent, while WPI stood corrected at 188.9 points during the second week of February against provisional level of 188.8 points.

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