Inflation rises to minus 1.17 per cent
Inflation rises to minus 1.17 per cent
Food articles became dearer over the previous week.

New Delhi: Inflation increased to minus 1.17 per cent for the week ended July 11 from minus 1.21 per cent recorded for the previous week.

For the corresponding week in the year-ago period, inflation stood at 12.13 per cent for the week ended July 12, 2008.

Food articles became dearer over the previous week. The price of fish-marine went up by 9 per cent and fruit and vegetables became costlier by 3 per cent.

Other items that became expensive included copra (3 per cent), raw silk (2 per cent) and aviation turbine fuel (7 per cent).

Retail prices of loose tea skyrocketed by 147.74 per cent in July, while its wholesale prices zoomed by 141.3 per cent, as per the data tabled in Rajya Sabha.

Similarly, retail prices of mustard oil moved up by 72.52 per cent, while its wholesale prices rose by 68.03 per cent. Rice, wheat, gram, sugar, milk, onion, salt have turned dearer over the months, the data showed.

The prices of essential commodities continue to remain high due to lower agriculture production in some crops and increase in the minimum support prices and growth in demand.

Year-on-year, the prices of cereals rose about 11 per cent, pulses 15.9 per cent, and fruit and vegetables 12.5 per cent. At the same time, the prices of milk have gone up nearly 4.8 per cent over last year, while spices were more expensive, by about 8.1 per cent.

During the week, aviation turbine fuel was costlier by 7 per cent.

At the same time, prices of brass sheets and strips zoomed by 28 per cent, texturised yarn by 5 per cent, pvc fitting pipes by 3 per cent and liquid chlorine by 2 per cent.

However, imported edible oil was cheaper by 6, oil cakes by 2 per cent.

Inflation for the week ended May 16 was revised upwards to 1.65 per cent from 0.61 per cent as estimated provisionally.

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