Thursday, February 22, 2024

Inflation rises to 11.63 percent

Maintaining an upward swing, India’s annual rate of inflation rose to 11.63% for the week ended June 21 against 11.42% for the preceding week. The index for primary food articles comprising tea, fruits and vegetables rose 0.6% while that of non-food articles like raw cotton rose 0.4 percent. The index for fuel, power light and lubricants declined 0.1 percent, while the index for manufactured products like oilcakes rose 0.5 percent.
For chemicals and chemical products, the index rose 0.6% while that of non-metallic mineral products went up 0.1% due to marginal rise in the prices of cement. Official inflation data released by the Ministry of Commerce and Industry showed an increase of 4% in the price of tea while that of fruits and vegetables, maize, bajra and fish marine went up 2% each. The final wholesale price for all commodities stood at 229.1 points for the week ended April 26 and the annual rate of inflation based on final index calculated on point to point basis stood at 8.27% as compared to 7.61% (provisional).

More articles