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Journalism of Courage
Inflation fell to a 40-month low of 4.83 per cent during the week-ended February 26 due to cheaper edible oils, vegetables and some of the manufactured products. The fall comes despite global oil prices soaring in the recent past.
The wholesale price index (WPI) inflation fell by 0.18 per cent from the past week’s 5.01 per cent. The general price level stood as high as 6.00 per cent in the same period of the previous year.
The government revised upwards the point-to-point inflation to 6.56 per cent during the week-ended December 25 last compared to the provisional level of 6.39 per cent. The index of primary articles’ group was up by 0.2 per cent to 185.8 points. Food articles’ group index rose by 0.2 per cent to 185.2 points. Non-food articles’ group index was up by 0.4 per cent to 180.6 points.
The index for fuel, power, light and lubricants group remained unchanged for the second consecutive week, at the previous week’s level of 288.9 points. The index was 261.7 points in the year-ago period.
During the week in review, world oil prices remained high between $47-$48 a barrel as fears that Opec might cut production out weighed strong US inventories data and a cold wave hitting the US northeast. Oil prices had also soared above $55 a barrel on Friday.
The heavy-weighted manufactured products’ group declined by 0.1 per cent to 167.5 points.
