Inflation skids to 4.69%

Yet another 0.22 per cent fall in inflation to 4.69 per cent for the week-ended March 1 might give a breather to government, but prices skyrocketed for petrol, diesel and lubricants hitting hard the industry and commoners.

The point-to-point price change, as measured by wholesale price index (WPI), fell from the previous week’s level of 4.91 per cent, though it remained at mere 1.95 per cent in the year-ago period. The WPI rose by 0.4 per cent to 169.6 during the latest reported week from the previous week’s figure of 168.9 due to a sharp increase in domestic fuel prices and marginal hike in primary articles, even as manufactured products prices stood firm.

The index was 162 in the year-ago period. The final WPI stood corrected at 167.5 for the week-ended January 4 as against provisional level of 167.3 and final inflation was at 3.78 per cent compared to a provisional mark of 3.66 per cent. There is a sharp increase of around 2 per cent in the index for fuels’ group mainly on account of additional cess on diesel.