Inflation rises to 0.57 per cent, up second week in row

New Delhi, Apr 30 (PTI) In the midst of expectations of
inflation turning negative, it rose to 0.57 percent, the
increase being for the second consecutive week, on the back of
costlier food and other items, but still remained close to a
three-decade low.

Inflation rose by 0.31 percentage points for the week
ended April 18 over the previous week, despite a high base
effect of 8.23 per cent during the corresponding week of
last year.

"The increase in inflation over the previous week is due
to food prices, which have been showing some rise and the rise
was expected," the Prime Minister's Economic Advisory Council
Chairman, Suresh Tendulkar, said.

However, during the Lok Sabha elections, currently under
way, rising food prices have remained overshadowed in the
campaigning of parties because of issues like Bofors, terror
and the Supreme Court's order for inquiry into the role of
some politicians during the post-Godhra riots in Gujarat.

Besides food prices, manufactured and fuel items turned
costlier during the week. On a weekly basis, food articles
found in raw form rose 0.6 per cent, but turned expensive by
7.39 per cent year-on-year.

Prices of manufactured food items were up 1.9 per cent
week-on-week, but rose 11.38 per cent on a yearly basis.

Many analysts had predicted inflation to turn negative by
the end of last fiscal. PTI