New Delhi: There is some relief on the inflation front. It stays steady at last week's figure of 7.82 per cent. But still pretty high - close to the highest in 44 months.
Prices of fruits, vegetables and pulses have started falling, while steel and cement prices are static.
But fuel prices continue to worry. Industrial fuel prices, linked to international crude, are up. Aviation turbine fuel rates alone surged by 10 per cent.
Fuel, power, light and lubricants index as a whole went up by 0.1 per cent. The bad news - inflation still at an almost 4 year high and provisional figures for the month of March have been revised upward.
The Finance Minister has appealed the people to be patient and assured that necessary steps will be taken to curb inflation.
The rate of rising prices was much higher at over eight per cent even as of March 15, a period for which the government now released final inflation figures.
According to the latest figure, inflation stood at 8.02 per cent for the week ended March 15 against the provisional 6.68 per cent.
The inflation was 7.82 per cent for the week ended May 10 as compared to 7.83 per cent for the previous week said the official figures released today. During the corresponding week a year ago, the inflation stood at 5.62 per cent.
Amid speculation of rise in prices of petroleum products, inflation is likely to remain high for the next 3-4 months, while the Reserve Bank and Government may have to take additional monetary and fiscal measures, said analysts.
The Prime Minister has proposed controls over commodity exports and reduction of tariffs on imports to increase supply in domestic markets.
Several steps like scrapping of import duty on wheat, pulses, edible oils and maize have been taken. There is also a ban on export of non-basmati rice. Fear of further surge in Inflation rate persists as oil prices touched the record high of 135 dollar a barrel in the international market.
(With agency inputs)
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