This article was first published 20 years ago

Inflation inches up to 5.48%

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April 21, 2005 19:34 IST

Inflation touched 5.48 per cent for the week ended April 9, mainly due to costlier vegetables, fruits, cooking gas and edible oils.

The point-to-point Wholesale Price Index inflation rose by 0.22 per cent to touch a 12-week high of 5.48 per cent from the previous week's level of 5.26 per cent despite manufactured product prices remaining firm.

The widely-tracked WPI inflation was 4.57 per cent in the previous year period.

Apprehending further escalation in inflation if oil PSUs decide to hike prices of petrol and, notably diesel, due to high global prices, markets expect the Reserve Bank of India to factor in these when it unveils the Monetary Policy next week.

During the week under review, global oil prices, which had clocked an all-time high of over $58 a barrel on April 4, eased to little to over $53.

Government had informed Parliament that containment of inflation remained high on its agenda.
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