Shortterm inflation rose . per cent on a yearonyear basis for the week ending on Aug largely due to a surge in petroleum prices . It however decelerated from the preceding weeks . On a weekonweek basis the weekly inflation measured by the Sensitive Price Index SPI rose .
pc showing a rising trend for the past four consecutive weeks . Of the items in the SPI basket prices of goods soared seven dropped and remained unchanged compared to the previous week . During the week under review the items whose prices increased the most over the same week a year ago were wheat flour .
Wheat flour .pc gas charges for Q .pc cigarettes and tea Lipton .pc . rice basmati broken .pc chillies powder .pc rice Irri .pc and bananas .pc The biggest rise weekonweekly was in the price of chilly powder . The inflation rate was also observed on a week on the week on a weekly basis in the month under review .
Meanwhile a decrease was also seen in prices of tomatoes .pc cooking oil litre .pc vegetable ghee . kg . and firewood .pc firewood and mustard oil . The average Consumer Price Index CPI for the current fiscal year is projected to be forecast to be .pc from the previous fiscal year was projected to to be about .
pc. The average inflation rate is about 9.5 per cent . The IMF forecast is about 8.3 per cent for the previous year. In May the average inflation is about 10 per cent. The inflation index is about 11 per cent in 2013. Inflation rate is estimated to be around 9.
05 per cent from the last year. For the last month.
