Union Ministry of Commerce & Industry has released the official Wholesale Price Index for ‘All Commodities’ (Base: 1993-94 = 100) for the week ended 14th February, 2009 declined by 0.1 percent to 227.8 (Provisional) from 228.0 (Provisional) for the previous week.
The annual rate of inflation, calculated on point to point basis, stood at 3.36 percent (Provisional) for the week ended 14/02/2009 (over 16/02/2008) as compared to 3.92 percent (Provisional) for the previous week (ended 07/02/2009) and 5.66 percent during the corresponding week (ended 16/02/2008) of the previous year.
The movement of the index for the various commodity groups included the index for ‘Minerals’ group that rose by 5.3 percent to 622.6 (Provisional) from 591.1 (Provisional) for the previous week due to higher prices of magnesite (83%), barytes (38%), ochre (25%), iron ore (6%), chromite (3%) and steatite (1%).
Sadly, the prices of asbestos (2%) has declined in a context where the rate of consumption of asbestos in India is rising at an alarming rate because of political patronage.
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