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Inflation rate falls below 6% mark

New Delhi, May 25 (PTI): The rate of inflation continued to fall for the fourth consecutive week shedding another 0.13 per cent to 5.90 per cent for the week ended May 10, even as primary items became costlier.

The change in general price line, measured by the wholesale price index (WPI), fell in the latest reported week after it remained above 6 per cent for the last seven weeks. The index was only 1.62 per cent an year-ago. The WPI, however, stood firm at the previous week’s figure of 172.4 as the indices of fuels and manufactured items remained unchanged. The index was 162.8 in the year-ago period.

Mass consumption primary articles’ group index was up 0.2 per cent to 180.2 points due to costlier food and non-food articles, even as minerals’ prices fell. The index was 169 in the year-ago period.

A 2 per cent price hike in barley and 1 per cent each in jowar, bajra, maize, masur, eggs, mutton and condiments and spices pushed food articles’ group index marginally up by 0.1 per cent to 179.5 points. However, there was a 3 per cent fall in the price of moong.

The index for non-food articles’ group rose substantially by 0.5 per cent to 186.8 owing to higher prices for niger seed (9 per cent), sunflower (7 per cent), cotton seed and gingelly seed (5 per cent each) and raw silk (2 per cent). There was 3 per cent decrease in the prices of copra.

Minerals’ group index fell by 0.2 per cent to 118.4 due to price dip in fire clay (7 per cent) and magnesite (5 per cent).

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