Inflation slips further to 3.92 pc

Written by: Super Admin
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New Delhi, Feb 19: The official data released on Thursday, Feb 19 shows that India's annual rate of inflation falled further in the week ended Feb 7 to 3.92 pc from 4.39 pc the week before. The statistics released by the Industry Ministry shows that Wholesale Price Index (WPI) based inflation stood at 4.98 pc for the corresponding week of the previous fiscal

The WPI for all commodities declined 0.2 pc to 228 (provisional) from 228.4 (provisional) the week before. During the week, prices of manufactured items such as sugar, imported edible oil and textile items such as cotton yarn got cheaper.

While prices of chemical products, iron, steel and cables dropped, prices of some food items such as pulses, fruit and vegetables and maize continued to increase.

Fuel items too became expensive during the week on account of higher prices of naphtha and furnace oil, which went up by 10 per cent and 5 per cent respectively, despite fall in prices of crude oil.

The fall in the wholesale price index is expected to prompt the Reserve Bank of India (RBI) to cut key policy rates. An indication on this was made by the RBI Governor D Subbarao in Tokyo on Wednesday, Feb 18.


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