Inflation Drops Below 11%, Down To 10.68% - Nov 1, 2008

The annual wholesale price index-based inflation increased 10.68 per cent during the week ended Oct 18, slower than the previous week''s annual rise of 11.07 per cent, the Commerce Ministry said in a statement in New Delhi on Oct 30. Inflation has fell below the 11 per cent mark for the first time since May this year. The official WPI for ''All Commodities'' in the latest reported week fell by 0.2 per cent to 238.3 points, from 238.8 points in the previous week.

On a disaggregated basis, in case of the ''Primary Articles'' group, the annual inflation declined to 10.92 per cent in the latest reported week compared with 11.53 per cent in the previous week. Out of a total of 98 articles, 15 articles showed a decline in the current week. These comprised wheat, arhar, urad, moong, raw cotton, raw rubber, potatoes, groundnut seed, papaya, banana, apples, cashew nuts and corriander.

The fuel and power commodity group fell to 14.09 per cent in the current week compared to 14.49 per cent in the previous week. Manufactured products fell to 9.26 per cent compared to 9.53 per cent. Inflation of 30 essential commodities fell to 7.47 per cent in the latest week, from 7.80 per cent in the previous week.