Inflation remains unchanged at 12.14 percent

September 25th, 2008 - 8:11 pm ICT by IANS  

New Delhi, Sep 25 (IANS) India’s annual rate of inflation remained unchanged at the previous week’s level of 12.14 percent for the week ended Sep 13, fresh data showed Thursday.The inflation rate, based on the official wholesale price index (WPI), stood at 3.51 percent for the corresponding week last year.

The WPI data released by the ministry of commerce and industry showed an increase of 0.1 percent in the index for primary articles such as fruits and groundnut seeds over the past week.

The index for fuel, power, light and lubricants remained unchanged at its previous week’s level of 375.3 (provisional), which had declined 0.2 percent, while that of manufactured products such as mustard oil, and textile items declined 0.05 percent to 207.5 (provisional).

Alarmingly, the final data for WPI for the week ended July 19 showed that the inflation rate was actually 12.54 percent, as against 11.98 percent based on the provisional statistics.

Incidentally, former Reserve Bank of India (RBI) Governor C. Rangarajan, who also chaired the Prime Minister’s Economic Advisory Council till recently, has forecast the inflation rate to moderate to 10 percent by December.

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