New
Delhi:
The wholesale price index-based inflation fell to 3.84
per cent from 8.02 a year ago indicating the 'base year'
effect. The WPI remained unchanged at previous weeks level
of 194.5 points. The index was 187.3 points a year ago.
The
final inflation figure stood corrected at 4.39 per cent
in the week ended June 4 as compared to 4.22 per cent,
while WPI was revised upwards to 192.8 points as against
the provisional level of 192.5 points.
Global
oil prices had surged to $61 a barrel in the last week
of July 2005, on reports of explosion at a BP refinery
in Texas (US) and at ONGC oil platform, raising fears
of disruption of petroleum supplies.
The government had raised petroleum and diesel prices
by Rs2.50 and Rs2 per litre in June after a long gap.
However, the continued rise in international crude oil
prices increased under-recoveries and losses of PSU oil
companies.
Concerned
that rising crude prices will affect forex reserves on
one hand and influence domestic prices on the other, RBI
Governor Y V Reddy said on Wednesday that the central
bank was keeping a close watch on the situation.
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