India’s wholesale inflation soars to 7.83 percent (Lead)

May 16th, 2008 - 3:25 pm ICT by admin  

New Delhi, May 16 (IANS) India’s wholesale inflation, the weekly measure of price trends, rose to a three-and-a-half-year high of 7.83 percent for the week ended May 3, up from 7.61 percent in the week preceding it. The annual rate of inflation had stood at 5.74 percent in the corresponding week a year ago.

The index for food products under the manufactured products list rose by 0.7 percent due to higher prices of khandsari, oil cakes, coconut oil and flour. However, prices of jaggery, rice bran oil, rape and mustard oil, cottonseed oil and others declined.

The index comprising fuel, power, light and lubricants also rose by 0.8 percent, data released by Ministry of Commerce and Industry showed Friday.

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