Showing no sign of reversing its rising graph, inflation touched 12.44 per cent for the week ended August 2, on the back of rising food and fuel prices.
Earlier during the day a strong wave of selling towards end of session saw the Sensex end at day’s lows. The market was abuzz that inflation numbers would be above 12.4 per cent against media expectations of 12.16 per cent. Traders also squared off positions ahead of an extended weekend.
Annual inflation based on wholesale prices crossed the 12 per cent mark during the week ended July 26, fuelled by costlier manufactured products, fuel and food items other than vegetables. Vegetable prices showed a decline of 8 per cent from the year-ago period. However food products rose by 0.1 per cent, non-food articles 0.4 per cent and textiles by 0.4 per cent. Similarly, primary articles were up 0.1 per cent and chemical and chemical products 0.5 per cent. Fuel and petroleum remained unchanged.
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