Inflation down to 7.48% in November | business | Hindustan Times
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Inflation down to 7.48% in November

business Updated: Dec 14, 2010 17:00 IST

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

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

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

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

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

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

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

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

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

Within manufactured products, however, sugar prices eased by 10.97 % and leather and leather goods by 1.77% 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 %.

The government also expects inflation to moderate to 6% 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 %, 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.