New Delhi, Nov. 3: Rising food prices pushed up the inflation rate to a new four-month high of 5.41 per cent for the week ended October 21 from 5.26 per cent in the previous week.

The prices of pulses, wheat, vegetables, eggs and fruits went up during the week, ratcheting up inflation to a 18-week high since it touched 5.44 per cent for the week ended June 17. Inflation, based on the wholesale price index (WPI), was at 4.49 per cent in the corresponding week last year.

Meanwhile, the final inflation rate for the week ended August 26 has been revised upwards to 5.27 per cent from the provisional figure of 5.01 per cent.

The wholesale price index (WPI) for all commodities rose 0.1 per cent to 208.4 points, with non-food prices and mineral prices going down. The index was at 197.7 points a year ago.

The food articles group index was up by 0.5 per cent to 217.1 points due to higher prices of urad (4 per cent), fruits and vegetables (2 per cent) and gram, moong, wheat and eggs (1 per cent each).

The manufactured products group index also rose 0.1 per cent to 179.8 points due to increase in the price indices of processed food, paper, chemicals, basic metals and machinery.

Reddy on revision

Reserve Bank governor Y.V. Reddy today said there was no need to review the monetary policy’s estimate of inflation for the current financial year.

“There is no need to revisit the monetary policy stance on inflation,” Reddy said.

He was responding to queries on whether the central bank would revise its estimate after the government today announced that inflation was at 5.41 per cent for the week ended October 21.