Inflation Down to 7.48% in November

New Delhi
Inflation Down to 7.48% in November
Continuing with its trend towards moderation, inflation declined to 7.48 per cent in November, mainly boosted by lowering of pressure on certain food items.

Inflation had stood at 8.58 per cent in October. It was 4.50 per cent in November 2009.

For September this year, the inflation figure has been revised upwards to 8.93 per cent from the provisional number of 8.62 per cent.

This is the fourth consecutive month when the overall inflation has been in the single digit. It had remained over 10 per cent for six months till July.

As per the WPI data, prices of primary articles -- food, non-food articles and minerals -- shot up by 13 per cent on an annual basis.

However, prices of certain food items declined on an year-on-year.

While wheat became cheaper by 1.49 per cent, pulses fell by 8.37 per cent and vegetables overall went down by 4.59 per cent.

During the month, fuel and power prices went up by 10.32 per cent, while manufactured goods became expensive by 4.56 per cent on an annual basis.

Manufactured items have the highest weight of 64.9 per cent in the wholesale price index, on the basis of which inflation is calculated.

Within manufactured products, however, sugar prices eased by 10.97 per cent and leather and leather goods by 1.77 per cent on an annual basis.

The latest figure bears out the projection of Chief Economic Advisor Kaushik Basu who had earlier this month said that inflation in November will be down to 7.5 per cent.

The government also expects inflation to moderate to 6 per cent by end of the fiscal.

"Inflation is coming down. Now it is at the single digit but I would like it to be further reduced. I am hoping that by March it would be around 6 per cent, but it should come down further," Finance Minister Pranab Mukherjee told reporters after tabling the Mid-Year Analysis of the Economy in Parliament earlier this month.
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