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Inflation rate rises to 2.95%
UNITED NEWS OF INDIA
New Delhi, Nov 7: With no signs of let-up in price hike of naptha, the inflation rate witnessed yet another climb for the fourth consecutive week to touch 2.95 per cent on October 23, while maintaining its 17-year low. It was 2.84 per cent in the previous week.The main factor for the inflation rate to go up by 0.11% was the rise in the prices of jams, jellies, marmalades, naptha, fodder, steel wires and enamelled copper wires. But safflower, pipes, tubes and zinc became cheaper during the week under review. However, the inflation rate was hovering much above the eight per cent mark at 8.20% during the corresponding week last year. A substantial jump in the indices of paper and paper products and food articles was responsible for WPI for all commodities to rise for the fourth week by 0.1% to 369.4 on October 23 from 369. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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