Inflation around 12%

Inflation down at 12.10%

Agencies
Posted: Sep 11, 2008 at 1836 hrs IST
Updated: Sep 11, 2008 at 1836 hrs IST

Inflation fell to 12.10 per cent, extending the decline to the third week in succession, even as the finance ministry pointed out that 30 essential commodities have become expensive during the week ended August 30.

Inflation dipped by 0.24 per cent for the week ended August 30 from 12.34 per cent a week ago though none of the indices in the broad category declined.

However, prices of some food items, including imported edible oil and fruits, saw a fall.

According to a statement by the finance ministry, inflation of 30 essential commodities increased to 7.52 per cent during the week from 6.90 per cent a week ago.

In the food articles group, imported edible oil prices which had been rising quite a bit, declined by four per cent.

Besides, prices of fruits, maize and spices went down, the official data showed.

The finance ministry's statement also said that "in the primary articles group, the annual point to point inflation declined to 10.07 per cent compared to 10.79 per cent reported last week and 11.83 per cent for the week ended August 9, 2008."

Out of total of 98 items in the primary articles group, 19 commodities have shown a decline in prices in the current week as compared to August 16, 2008, the statement said.

The prices of various articles, including rice, maize, moong, masur, gram, onions and potatoes, declined during the week, the statement added.

In the manufactured group's category, there was no increase in prices of 296 items out of total of 318 commodities, the finance ministry added.

However, some of the manufactured items like sugar, khandsari, cement, groundnut oil, salt, tyre cord fabric and acids became dearer during the week, the statement added.