The following is the text of the statement on inflation issued by the Ministry of Finance, here today:-
"The rate of inflation in the week ending June 28, 2008 stands at 11.89 per cent, marginally higher than the rate of 11.63 per cent reported last week.
The annual inflation rate for the group of 30 commodities stands at 5.98 per cent. Prices of essential commodities which include food grains, pulses, edible oils, vegetables, dairy products and some other commodities including kerosene, soap safety matches have more or less stabilized, since the rate of inflation reported last week was 5.89 per cent.
In the 'primary articles' group, out of a total of 98 articles, 12 articles have shown a decline in prices as compared to June 21, 2008. These include wheat, rice, maize, garlic, cabbage, cumin, black pepper, ginger and niger seed. Another 55 articles have shown no increase in prices.
In the case of 'manufactured products', out of a total 320 commodities, a large number, 278 in all, have shown no increase in prices over the last week. In the case of 16 commodities there is a decline in prices. These commodities include Lead ingots, pencillin, imported edible oil, pig iron, steel products, cotton seed oil, de-oiled cake etc.
The 'fuel power and light' group exhibits stability of prices."
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