Inflation at the Primary Articles level is at 10.84% for the week ended 24 September 2011. PA accounts for about 21% of the overall index. Fuel, which has a 14% weight, showed an inflation of 14.69%. The rest – 65% – is of “Manufactured Goods”, or secondary items whose price data is revealed only once a month.
This continues to remain unacceptably high, although it has moderated from the earlier highs. RBI expects a number of less than 6%. The sudden rise in Nov-Dec last year will likely ensure that headline numbers remain low during that period, even if it’s only temporary.