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Fuel prices push up inflation rate to 6 per cent

New Delhi, April 6 (PTI) A 4 per cent rise in the prices of petrol and diesel pushed up the rate of inflation to 6 per cent for the week ended March 22. It was at a mere 1.63 per cent in the year-ago period.

A sharp 2 per cent rise in domestic prices of fuels led to a 0.43 per cent rise in the point-to-point inflation, as measured by the wholesale price index (WPI), to 5.99 per cent for the week under review from the previous week’s level of 5.56 per cent. This belies the Reserve Bank’s hope of a “stable” scenario on the price front.

The WPI rose 0.5 per cent to 171.6 compared with 170.8 in the previous year on account of price hike in manufactured products, even as prices of primary articles, mainly fruits and vegetables, declined, giving little respite to the public. The index was 161.9 in the previous year.

The final WPI stood corrected at 168.3 for the week ended January 25 compared withthe provisional level of 168 and the final inflation was at 4.79 per cent against the provisional mark of 4.61 per cent.

A sharp 1 per cent fall in the price of food articles pushed down the index for primary articles’ group by 0.6 per cent to 177.3, even as non-food items became cheaper and the index was 167.4 in the year-ago period.

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