Inflation rises to 6.73%

Tight monetary policy and various fiscal sops have failed to contain inflation as it jumped to a record level of 6.73 per cent during the week ended February 3 compared to 6.58 per cent for the previous week.

The prices have been pushed up by costlier primary items, mainly non-vegetarian food articles and some manufactured products.

The rise in wholesale prices-based inflation rate could be gauged from the fact that it stood at a mere 3.98 per cent in a year-ago period.

Among food articles, prices of some non-vegetarian products rose exorbitantly. For example, pork became expensive by 26 per cent, eggs were costlier by 7 per cent and mutton was available at 4 per cent higher prices.

Prices of urad, masur, moong, condiments, spices, fruits and vegetables, bajra, niger seed, cotton seed oil, rape and mustard oil, ground nut oil also rose. However, the prices of barley, wheat, jaggery, suji, maida, atta and imported oils declined, as did the prices of aviation turbine fuel, naphtha, furnace oil and electricity.