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Journalism of Courage
Inflation continued to fall for the fourth consecutive week shedding another 0.13 per cent to 5.90 per cent for the week-ended May 10, even as primary items became costlier. The change in general price line, measured by wholesale price index WPI, fell in the latest reported week after it remained above 6 per cent for the last seven weeks and the index was only 1.62 per cent an year-ago period.
WPI, however, stood firm at the previous week8217;s figure of 172.4 as the indices of fuels and manufactured items remained unchanged and the index was 162.8 in the previous year. The final WPI stood at 171.5 for the week-ended March 15 as against the provisional level of 170.8, while the final inflation was 6 per cent as compared to the provisional mark of 5.56 per cent.
Mass consumption primary articles8217; group index was up by 0.2 per cent to 180.2 points due to costlier food and non-food articles, even as minerals8217; prices fell. The index was 169 in the previous year. A 2 per cent price hike in barley and 1 per cent each in jowar, bajra, maize, masur, eggs, mutton and condiments and spices pushed food articles8217; group index marginally up by 0.1 per cent to 179.5 points. However, there was a 3 per cent price fall in moong. The index for non-food articles8217; group rose substantially by 0.5 per cent to 186.8 owing to higher prices. The index for fuel, power, light and lubricants8217; group remained firm at the week-ago level of 249.3 even as global prices spurt on reports of surprise drop in the US commercial crude oil inventories.
