Mumbai: The annual rate of inflation based on the wholesale price index fell 0.20 percentage points to 3.01 per cent in the week ended November 24 from 3.21 per cent during the previous week, official data showed.

The annual inflation rate was 5.55 per cent during the corresponding week of the previous year.

Inflation rate has been ruling below the Reserve Bank''''s 5 per cent target for five months despite an increase in food and raw material prices.

The government''''s cap on retail prices of gasoline and diesel to protect consumers from near record-high oil costs have also helped to check inflation.

Prices of cooking gas has not been raised since November 2004 and kerosene since April 2002.

During the week ended November 24, the index of primary articles were down 0.7 per cent at 222.7 points against 224.3 points the week earlier.

The index for fuel and power remained unchanged at 326.1 points. Manufactured product prices rose marginally by 0.1 per cent to 188.2 points.

Food articles were cheaper (-0.1 per cent) at 221.8 points. Vegetable prices were down 9.6 per cent at 205.5 points. Food products were, however, firmer at 192.0 points. Edible oils also remained firmer (+0.5 per cent) at 176.0 points. Cement prices remained unchanged at 219.7 points.

The government also revised the inflation rate for the week ended September 29 to 3.36 per cent from 3.26 per cent the week earlier. The government revises the figure after a delay of two months on additional price data.