Friday, July 18, 2008

Govt steps showing results to control inflation

by Jo Black

Indian Finance Minister, Mr. P Chidambaram, on Thursday said the rate of price rise has stabilised on a week-on-week basis, with prices of many essential items either declining or remaining static.

The inflation which stands at 11.9% rose only by 0.02% the week-ended July 5.

“The rate of inflation for the week ending July 5, 2008 stands at 11.91%, marginally higher than 11.89% reported last week… Inflation, on a week-on-week basis, has stabilised,” the finance ministry said.

The WPI moved up only marginally from 238.1 in the week ending June 28, 2008 to 238.7 in the week ending July 5, 2008; the rate of inflation for the week ending July 5, 2008 stands at 11.91 per cent, very marginally higher than the rate of 11.89 per cent reported last week.

The annual inflation rate for the group of 30 essential commodities has also declined to 5.74 from 5.98 per cent reported for the week ending June 28, 2008.

Prices of essential commodities which include food grains, pulses, edible oils, vegetables, dairy products and some other commodities including kerosene, soap and safety matches have more or less stabilised.

 

 

 

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