New Delhi, Nov 28: Triggered by the hike in the prices of food products, the inflation rate witnessed yet another ascent to touch its 23-week high of 3.12 per cent on November 13. It was 3.01 per cent the week before.The rise was despite the fall in the indices of food articles and non-food articles. The main factor for the 0.11 per cent increase was the hike in prices of rice bran oil, bran, optical whitening agents, sulphuric acid, caustic soda, brass sheets, strips, steel ingots and automobile parts. But sunflower, raw jute, raw rubber and salt became cheaper during the week under review. However, it was much above the 8 per cent mark at 8.21 per cent during the corresponding week last year.
It had crossed the 3 per cent barrier last week after a gap of 22 weeks. It never touched the double digits for more than four years since April 15, 1995, when it stood at 9.90 per cent.
In contrast, the inflation rate based on consumer price index for industrial workers, dropped drastically by 1.01 per cent to2.14 per cent in September from 3.15 per cent in the previous month. It has been on a downward swing for the sixth successive month since April this year. It had been maintaining a single digit realm for the ninth month in succession since January this year. The higher base during the corresponding period last year was responsible for the lower rate of inflation.
Due to sharp downward curve in the indices of food articles and non-food articles, the official wholesale price index for all commodities (base 1981-82) dropped, after witnessing a six-week rise, by 0.1 per cent to 369.8 from 370.2.
The index for transport equipment and parts rose by 0.6 per cent during the week under review.-- UNITED NEWS OF INDIA
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.