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Inflation rises to 4.14%

July 08, 2005 13:12 IST

Costlier petrol, diesel and food products pushed up inflation to 4.14 per cent during the week ended June 25 but it was much lower than 6.95 per cent a year ago.

The point-to-point wholesale price index inflation rose marginally by 0.04 per cent from the previous week's 4.10 per cent while vegetable prices shot up by about seven per cent.

The rise in inflation is on the lines of the various industry chambers' prediction that the recent price hike in fuels, notably in diesel, would exert pressure on commodity prices.

WPI rose sharply by 0.5 per cent to 193.9 points due to costlier primary articles and fuels, while manufactured items became cheaper. The index was 186.2 points a year ago.

During the week in review, the government had hiked petrol and diesel prices by Rs 2.50 and Rs 2.0 a litre, leaving kerosene and cooking gas prices untouched. Global crude oil prices had touched $60 a barrel mark on speculative buying and fears of supply disruptions due to refinery glitches.

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