Inflation slips below 5% mark

NEW DELHI: Inflation fell to 4.84% for the week ended June 24 from 5.44% in the previous week, despite an increase in the prices of food and manufactured items. The wholesale price-based inflation was 4.3% during the corresponding week last year.

The Wholesale Price Index (WPI) for all commodities rose by 0.1% to 203.6 points and it was 194.2 points in the year-ago period.

The government revised the final inflation figure to 3.9% for the week-ended April 29 from the provisional 3.59%, while WPI stood corrected at 199.6 points as against the provisional 199 points.

Primary Articles group index was up by 0.2% to 205.7 points as prices rose for both food and non-food products and the index was 192.1 points a year ago.

The index for Food Products group rose marginally to 208.8 points due to higher prices of tea (5%), ragi (3%), maize and bajra (2% each) and moong, gram and eggs (1% each), but barley became cheaper by 1%. Non-Food Articles group index increased by 0.9% to 183.2 points owing to rise in prices of logs & timber (24%) and sunflower (2%), even as raw rubber price came down by 3%.

Fuel, Power, Light and Lubricants group index stood firm at the previous week’s level of 326.4 points and it was 302.5 points in the year ago period.

World crude prices hovered around $70 a barrel, supported by strong demand and lingering geopolitical tensions in the oil-rich Middle East.Manufactured Products group index rose by 0.1%to 175.5 points as prices increased for food and chemicals products.