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Inflation inches up to 3.14%

Our Economy Bureau in New Delhi

Inflation continued to rise for the third week to touch 3.14 per cent, an increase of 0.12 per cent, for the week ended November 2, mainly because of costlier primary items owing to a steep increase in the prices of non-food products.

Interestingly, there was a sharp decline in vegetables and fruits price, though point-to-point inflation, measured by wholesale price index, rose from 3.02 per cent a week ago and the index was 2.46 per cent during the same week the previous year.

The 'pull up' effect of the sharp price hike in fish marine, poultry chicken and soyabean was contained by price dip in essential commodities, like fruits and vegetables.

WPI rose marginally by 0.1 per cent to 167.4 from 167.3 even as prices of fuels and manufactured items stood firm and the index was 162.3 in the previous year.

The final WPI for the week ended September 7 stood corrected at 167.7 compared to the provisional level of 167.8 and inflation was 3.71 per cent in the second week of September against the provisional figure of 3.77 per cent.

For the week ended November 2, the primary articles group index increased by 0.2 per cent to 174.9 from 174.5 in the previous week owing to a steep 1.6 per cent rise in the price of non-food articles even as there was price dip for food items.

The index was 170.2 during the corresponding period last year. The index for food articles group fell by 0.2 per cent to 181.4 from 181.8 due to cheaper vegetables, fruits, bajra, condiments and spices, while there was an increase in the prices of poultry chicken, fish-marine and maize and barley.

The non-food articles group index rose to 163 from 160.4 because of higher prices of soyabean, copra and fodder, raw silk and kardi seed, groundnut seed, gingelly seed and niger seed and raw cotton and castor seed.

Fuel, power, light and lubricants group index stood firm for the second consecutive week at 241.2 and the index was 181.1 in the previous year.

The manufactured products group index also remained firm at the previous weeks mark of 148.3 despite the rise in prices of food products, chemicals and non-metallic mineral products while textiles became costlier.

The index was 144.4 in the corresponding period last year. The food products group rose by 0.1 per cent because of costlier bran while the index for textiles declined by 0.4 per cent to 122.5.

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