Inflation hits a 5-year low at 3.32 per centnews
21 September 2007

Mumbai: The annual rate of inflation based on the wholesale price index (WPI) fell to 3.32 per cent for the week ended September 8 from 3.52 per cent the previous week, due mainly to a marginal fall in fuel, power and non-metallic mineral prices.

However, prices of primary articles, which include major food and non-food items, rose by 0.2 per cent during the week, official data showed.

The food articles group rose by 0.2 per cent due to higher prices of fruits and vegetables, condiments and spices, barley and wheat (one per cent each).

The index of manufactured products, which has a 63.75 per cent weight in the wholesale price index, rose by 0.2 per cent.

The inflation rate for the week ended July 14, 2007.has been revised from 4.41 per cent to 4.76 per cent for.

The inflation rate during the same period the previous year stood at 5.22 per cent (September 9, 2006).

Analysts, however, do not expect further sharp falls amidst record high oil prices.

Oil prices which rose above $84 a barrel this week could lead the government to raise state-set retail prices of petrol and diesel, they point out.


also see : General reports on Economy

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Inflation hits a 5-year low at 3.32 per cent