Earlier, the inflation rates declined to 0.27 in consecutive eight weeks. However, from Mar 14 to Mar 21 the inflation rate rose marginally to 0.31 per cent which ended with the current low of 0.26 percent. This is mainly due to the fall of primary articles like food, and mineral products.
The data released by the commerce and industry ministry showed that the wholesale price index remained unchanged at 227.3(provisional) between Mar 21 and 28. The index for manufactured products rose 0.2 per cent and for primary articles declined 0.3 per cent. The index for fuel, power, light and lubricants remained at its previous week's level of 320.9 (provisional).
Economists explain that lower inflation rate only implies the rate of rise in prices has come down, not the actual prices. They predict deflation in Indian economy which would be characterised by decline in the general price levels.