Inflation stays static, but still over 7.1%

The annual rate of inflation on point-to-point basis has remained static at previous week’s level of 7.1 per cent for week-ended Octobe...

The annual rate of inflation on point-to-point basis has remained static at previous week’s level of 7.1 per cent for week-ended October 16. The rate of inflation a year ago was 5.13 per cent.

Commenting on inflation, Finance Minister P. Chidambaram said in Mumbai the government would continue to closely monitor the situation and would not allow any irrational price behaviour.

Inflation stood firm despite the twin tranche of hike in CRR to 5 per cent. Though rate of inflation remained static, certain commodities like vegetables and fruits became cheaper. WPI during the week rose by 0.1 per cent to 188.6 points due to rise in prices of fuel by 0.2 per cent and manufactured products by 0.1 per cent. The index for primary articles, however, declined by 0.3 per cent.

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