Return
to Story Page
To print: Select File and then Print from your
browser's menu
PRESS TRUST OF INDIA
New Delhi, Aug 22: Maintaining its upward trend in the second consecutive week, the inflation rate inched up by 0.08 per cent to touch the mark of 1.70 per cent (provisional) on August 7 following increase in prices food items, basic metals and textiles. The inflation based on the wholesale price index was 1.62 percent the week before.
The jump in inflation rate was due to rise in prices of jowar, ragi, masur, vegetable and fruits, bajra, rice bran oil, salt, maida, suji and solvent extracted groundnut oil, shirts, bushshirts, hessian and sacking bags, foundries for casting and forging and other non-ferrous metals.
However, it remained above 8 per cent mark at 8.07 per cent during the corresponding week last year.
The rising trend in the inflation rate was witnessed despite fall in the prices of tea, fish, kardi seed, cottonseed, sugar and sweet meat confectionary, building bricks and cement.
The main reasons for decline in inflation rate was attributed to the record agricultural production offoodgrains and oilseeds which paved the way to this fall.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
------------------------------------------------------------
This story was printed from Net Express located at http://www.expressindia.com. Net Express provides a portal to India, with news from The Indian Express and The Financial Express along with sites on travel and tourism, the entertainment industry, the power sector, the environment and much more.
------------------------------------------------------------