Inflation further dips to 4.61%

New Delhi, Sep 22 (UNI) The annual rate of inflation today further dipped to 4.61 per cent for the week ended September 9 as against 4.78 per cent the previous week on account of lower price of manufactured products.

RBI governor Y V Reddy yesterday said he was concerned about inflationary expectations despite a fall in oil prices to six-month lows but Finance Minister P Chidambaram said there was probably no need for further interest rate rises.

''At the current interest rate level we should be able to contain inflation as well as sustain and support the growth,'' Mr Chidambaram said.

The inflation rate calculated on point-to-point basis, stood at 4.11 per cent during the corresponding week of the previous year, according to official figures released here today.

UNI PV SRS DB1215