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U.S.Economy: 
India Inflation Falls to -1.3%
Author: 123jump.com Staff
123jump.com
Last Update: 10:06 AM ET July 02 2009


The annual rate of inflation, calculated on point to point basis, stood at -1.3% for the week ended 20/06/2009 over 21/06/2008 as compared to -1.14% for the previous week ended 13/06/2009 and 11.91% during the corresponding week ended 21/06/2008 of the previous year.

 
The following is the unedited transcript of the news release from Office of Economic Adviser, Ministry of Commerce & Industry, New Delhi


The official Wholesale Price Index for ''All Commodities'' (Base: 1993-94 = 100) for the week ended 20th June 2009 rose by 0.2 percent to 234.6 (Provisional) from 234.2 (Provisional) for the previous week.

The annual rate of inflation, calculated on point to point basis, stood at -1.30 percent (Provisional) for the week ended 20/06/2009 (over 21/06/2008 ) as compared to -1.14 percent (Provisional) for the previous week (ended 13/06/2009) and 11.91 percent during the corresponding week (ended 21/06/2008) of the previous year.

The movement of the index for the various commodity groups is summarized below:

PRIMARY ARTICLES (Weight 22.02%)

The index for this major group rose by 0.5 percent to 257.6 (Provisional) from 256.3 (Provisional) for the previous week. The groups and items for which the index showed variations during the week are as follows:

The index for ''Food Articles'' group rose by 0.6 percent to 252.8 (Provisional) from 251.2 (Provisional) for the previous week due to higher prices of fruits & vegetables (4%) and arhar (1%). However, the prices of fish-marine and tea (4% each) and jowar (3%) declined.

The index for ''Non-Food Articles'' group rose by 0.3 percent to 236.8 (Provisional) from 236.0 (Provisional) for the previous week due to higher prices of fodder (4%) and groundnut seed (2%). However, the prices of raw wool (4%), raw silk and raw rubber (2% each) and copra and linseed (1% each) declined.

FUEL, POWER, LIGHT & LUBRICANTS (Weight 14.23%)

The index for this major group rose by 0.1 percent to 327.9 (Provisional) from 327.5 (Provisional) for the previous week due to higher prices of naphtha (2%).

MANUFACTURED PRODUCTS (Weight 63.75%)

The index for this major group rose by 0.05 percent to 205.9 (Provisional) from 205.8 (Provisional) for the previous week. The groups and items for which the index showed variations during the week are as follows:

The index for ''Food Products'' group rose marginally to 233.3 (Provisional) from 233.2 (Provisional) for the previous week due to higher prices of cakes & sweet roles (9%) and sugar (1%). However, the prices of rice bran oil (4%) and imported edible oil and cotton seed oil (2% each) declined.

The index for ''Textiles'' group rose by 0.3 percent to 143.1 (Provisional) from 142.7 (Provisional) for the previous week due to higher prices of hessian cloth (6%) and hessian & sacking bags (2%).

The index for ''Paper & Paper Products'' group rose by 0.5 percent to 205.0 (Provisional) from 204.0 (Provisional) for the previous week due to higher prices of news paper (5%) and m.g. poster paper (1%).

The index for ''Rubber & Plastic Products'' group declined by 0.1 percent to 168.2 (Provisional) from 168.3 (Provisional) for the previous week due to lower prices of pvc fitting & accessories (3%).

The index for ''Chemicals & Chemical Products'' group rose marginally to 228.3 (Provisional) from 228.2 (Provisional) for the previous week due to higher prices of phenol (15%) and p.v.c. resins (5%).

The index for ''Machinery & Machine Tools'' group declined by 0.2 percent to 171.5 (Provisional) from 171.8 (Provisional) for the previous week due to lower prices of p.v.c. insulated cables (4%). However, the prices of hydraulic pumps (1%) moved up.

The index for ''Transport Equipment & Parts'' group declined by 0.1 percent to 175.3 (Provisional) from 175.4 (Provisional) for the previous week due to marginal decline in the prices of other automobile spare parts.
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