Indian Inflation continues to stay in double-digit territory

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India's annual rate of inflation calculated on apoint-to-point basis rose 11.89%, for the week ended 12th July,slowing a tad from the 11.91% rise recorded in the previous week,according to the Ministry of Commerce, Thursday.

The Wholesale Price Index for 'All Commodities rose 0.1% to 239from 238.7 in the earlier week. The rate of inflation on 14th Julywas 4.76% higher compared to the year ago period.

The index for primary articles, with a weight of 22% in the totalindex grew 0.6% to 247.5 from 246.1 in the previous week. The indexfor 'Food Articles increased 0.6%, pushed by the 8% climb in theprices of coffee, while prices of fruits, vegetables and muttongained 2%. In contrast, prices of fish-marine declined 3% whileprices of condiments and spices decreased 1%.
The index for 'Non-Food Articles' grew 0.8%, pushed by higherprices for sunflower, raw rubber and raw cotton.
Prices of Fuel, Power, Light and Lubricants group remainedunchanged at a level of 376.3. This group has a weight of 14.23% inthe total index.

Manufactured products index accounts for a weight of 63.75% in thefull index. The index for this group moved up 0.05% to 205.5 in theweek ended 12th July, from 205.4 in the prior week.

The prices for 'Food Products rose 0.1% to 211.4 from 211.2 in theearlier week. Prices of coffee powder gained 6%, while prices ofgingelly oil and oil cakes rose 1%. This was partially offset bythe 2% decline in prices of rice bran oil, while prices ofcottonseed oil and imported edible oil fell 1%.