Inflation Crosses 3% Mark For First Time In 2002

New Delhi, Aug 25: | Updated: Aug 26 2002, 05:30am hrs
Inflation rate touched a new high of the year crossing three per cent in the week ended August 10, due to burgeoning prices of cereals, gram, vegetable oil, fodder, processed tea, cotton, textiles, minerals and metals. Based on wholesale price index (WPI), inflation surged to 3.03 per cent from 2.66 per cent in the previous week but was still lower than 5.54 per cent a year ago.

WPI for all commodities rose by 0.4 per cent during the week to a provisional figure of 166.7 points from 166.1 in the previous week and 161.8 a year ago.

The final WPI during week-ended June 15 stood at 165 as against the provisional figure of 164.3, while final inflation rate was at 2.48 as against the provisional estimate of 2.05 per cent.

The overall price level surged on account of 0.4 per cent rise in each of the primary articles and manufactured products although fuel prices were stable.