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January 05, 2007 13:05 IST
Inflation surged to 5.48 per cent during the week ended December 23, just short of the upper threshold of Reserve Bank's projections for this fiscal, due to rise in prices of some essential manufactured products, food items and minerals.
Inflation stood at 5.43 per cent in the previous week and 4.62 per cent in the corresponding period of the previous year.
Inflation at 5.48 per cent is this fiscal's highest, according to provisional estimates. However, as per the revised estimates inflation had already touched 5.61 per cent during the week ended October 21.
RBI has projected inflation to remain between 5-5.5 per cent this fiscal. RBI's move to raise CRR by 0.25 per cent was given effect on December 23, the last date of the period under review, so its full impact was not as perceptible. The move is likely to dampen inflation in the next week, according to analysts.
Broadly, bajra, maize, fish marine, wheat, ragi, sunflower, safflower, fire clay, black tea leaf, imported edible oil and rice bran oil became more expensive.
On the other hand, prices of moong, barley, urad, gram, electricity, sugar, processed tea declined.
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