Though fuel prices have come down sharply, lowering overall inflation, basic, food and manufactured product prices either continue to rise or remain stagnant. In the week ended April 11, inflation was at 0.26%, almost close to zero but higher than the previous week’s level of 0.18%.
Primary article prices are up by 4.3% over the same week, a year ago with food prices being up by 7%. Mineral and ore prices have fallen sharply. Manufactured product prices have not fallen, with producers holding on to prices to compensate for falling volumes, it seems.