Inflation spikes to 5.60 per cent

After declining for ten weeks,inflation rose to 5.6 pct due to higher prices of edible items.

Written by Agencies | New Delhi | Published:January 22, 2009 12:45 pm

After declining for ten consecutive weeks,inflation rose to 5.6 per cent due to higher prices of edible items like fruits and vegetables,caused mainly due to the truckers’ strike.

Inflation,measured by movements in wholesale prices,rose by 36 basis points for the week ended January 10 from 5.24 per cent in the previous week. It was 4.36 per cent a year ago.

The increase in the rate of price rise,noticed after a gap of more than two months,was due to an eight-day nation-wide strike by truck operators,which began on January 5.

Among the items that became expensive during the week were fruit and vegetables (9 per cent),wheat (2 per cent) and spices,milk,ragi and rice (1 per cent each).

The index of primary articles increased by 2.2 per cent.

Though the index of fuel items remained unchanged during the week,the manufactured items index rose by 0.2 per cent.

In the manufactured food products category,oil cakes became expensive by 8 per cent,canned fish by 43 per cent,and imported edible oil and coconut oil by 7 per cent each.

Items that reported decline in prices include unrefined oil (8 per cent) and groundnut oil (1 per cent). The prices of rubber and plastic products too went down marginally.

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