Inflation

New Delhi: India's annual rate of inflation crossed the 12 per cent mark to 12.01 per cent for the week ended on July 26 as compared to 11.98 per cent the week before, data released today showed. The Wholesale Price Index (WPI) released by the ministry of commerce and industry showed an increase in the prices of primary articles by 0.1 per cent, while that of non-food articles rose by 0.4 per cent.

The official data showed that the annual rate of inflation based on final index, calculated on point-to-point basis, stood at 9.32 per cent as compared to 8.75 per cent (provisional) for the week ended May 31. The finance ministry, however, in a statement said,"Inflation, on a week on week basis, has continued to remain stable."

"The rate of inflation for the week ending on July 26 stands at 12.01 percent, marginally higher than the rate of 11.98 per cent reported last week," the finance ministry's statement said. After a lull, the WPI for fuel, power, light and lubricants rose by 0.2 per cent due to higher prices of furnace oil (three per cent).

The manufactured-products index rose by 0.1 per cent while that of chemicals and chemical products increased by 0.05 per cent. The price index for mineral declined by 0.6 per cent, while that of chemicals and chemical products declined by 0.05 per cent. The final wholesale price index for all commodities stood at 232.3 as compared to 231.1 (provisional) for the week ended on May 31.(IANS)