Inflation for week ended Apr 16

Inflation for the week ended April 4 has come in at 0.18% as against 0.26% the week earlier. A CNBC-TV18 poll earlier saw inflation for the week ended April 4 coming in the negative.
Wholesale Price Index (WPI) for all commodities was up 0.4%, At 228.2 on week-on-week (WoW) basis. Primary articles were up 1.1% (WoW), whereas, manufacturing products climbed 0.1% (WoW). Fuel Group was up 0.5% (WoW) and Jet Fuel Price was up 12% (WoW). Naphtha rose 8%.
Meanwhile, inflation for the week-ended February 7 has been revised to 3.69% as against the provisional figure of 3.93%.
Mridul Sagar, Chief Economist at Kotak Securities feels there is still scope of seeing deflation at some point of time, where inflation will move into the negative territory. However, he said, the euphoria which one had or the concerns one had in terms of whether we would get large deflation in India seems to be petering out a bit.
Nevertheless, one is still seeing food price pressures as a matter of deep concern and is reflected in the Consumer Price Index (CPI). Sagar feels, probably, the markets would take recognition of the fact that the fall in inflation is overplayed statistically.