Inflation in the country fell marginally, to 8.66 per cent in April, on the back of a moderation in the prices of certain food items.However, prices of manufactured products, and of fuel and power continued to climb. Overall inflation, as measured on the basis of the Wholesale Price Index, has been revised to 9.04 per cent for March, from the earlier 8.98 per cent.According to official data released today, the prices of primary articles, food, non-food articles and minerals rose 12.05 per cent on an annual basis. Among primary articles, food items rose 8.71 per cent. But onions were cheaper by 6.37 per cent, on an annual basis, while potatoes were down 0.54 per cent. But fuel and power prices rose 13.32 per cent in April, driven mainly by a 21.81 per cent rise in petrol prices, and a 11.31 per cent jump in cooking gas rates. The manufactured goods group index rose 6.18 per cent. Encouraged by the marginal decline in inflation, Finance Minister Pranab Mukherjee today said he was hopeful prices would come down further in the coming months amidst increase in foodstocks and decline in costs of manufactured items.Mukherjee told reporters in New Delhi that the April prices have come down both on the manufacturing sector and food sector. He said, therefore, this is good trend and if it continues, then perhaps it will be more moderated.Meanwhile, foodstocks in the country have more than doubled to 44.18 million tonnes as on April 1, 2011 against the buffer norm of 21.2 million tonnes.
News On AIR | May 16, 2011 6:20 PM
Inflation falls marginally