Inflation Rises To 7.38 Per Cent Email this page
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New Delhi, Nov. 5 (NNN): After remaining unchanged for a week, country’s inflation rose by 0.28 per cent to 7.38 per cent for the week ended October 23, according to the official data available here on Friday.
The rise was largely due to costlier vegetables, fuels and certain manufactured products.

The point-to-point Wholesale Price Index (WPI) inflation rose from 7.1 per cent even as the Reserve Bank expected it to be around 6.5 per cent this fiscal due to lingering concern over uncertain oil prices in the global markets.

The WPI was up by 0.3 per cent to 189.1 points due to an all-round price hike for main commodities -- primary articles, fuels and manufactured products, including edible oils. The index was 176.1 points in the year-ago period.

The WPI inflation of 8.33 per cent registered during the week ended August 28 actually turned out to be much lower than the final figure of 8.74 per cent since the former was only a provisional figure.

The final WPI stood corrected at 189.2 points during the last week of August as compared to the provisional mark of 188.5 points.

The general price level was 5.13 per cent in the previous year period.

Meanwhile, according to market analysts the Reserve Bank of India’s rather modest inflation forecast could again be revised upwards on account of the steep hike in petroleum products prices effected from midnight last night and the serial upward revision in LPG prices every month till the subsidy on cooking gas was wiped out.

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