Mumbai: India''s annual rate of inflation based on the wholesale price index eased to 4.03 per cent in the week ended June 16, from 4.28 per cent in the previous week, following a decline in food and manufactured product prices, official data showed.

At 4.03 per cent the inflation rate was the lowest since the end of April 29 last year, when the rate was at 3.9 per cent. It accelerated to 4.37 per cent in the following week.

The inflation rate was 5.50 per cent during the corresponding week of the previous year.

To check prices of food grains, which have risen at almost twice the pace of manufactured product costs in the past year, the government removed the import duty on lentils in June 2006, and on wheat in September.

The government has revised the inflation rate for April 21 to 6.07 per cent from 5.77 per cent, with the index for that week revised up to 211.5 points - just 2 points below the preliminary index level as at June 16.