New Delhi, Jan. 29: Inflation rose for the second consecutive period and stood at 5.64 per cent for the week ended January 17.
The government expects it to fall in the coming weeks because of yesterdays cut in petrol and diesel prices.
Inflation for January 17 inched up 0.04 per cent from 5.6 per cent a week before. The eight-day truckers strike, which ended on January 12, restricted the movement of goods, leading to a shortage of food items and the price rise.
Higher inflation this week is mainly due to the lagging effect of the truckers strike and it should cool down again. The effect of the fuel price cut should be seen in the next 2-3 weeks, D.K. Joshi, principal economist at Crisil, said.
According to petroleum minister Murli Deora, the fuel price cut will bring down inflation to around 3 per cent in the coming weeks .
During the week under review, cement and iron and steel had bucked the trend to report a marginal fall in prices.