Inflation sinks to 5.66pc due to cheaper food items
New Delhi, May 11: The headline inflation further dipped to 5.66 per cent for the week ended April 28, as compared to 5.77 per cent the previous week due to a marginal decline in food prices.
The annual rate of inflation, calculated on a point-to-point basis, stood at 3.90 per cent during the corresponding week of the previous year, according to official figures issued here today.
Finance Minister P Chidambaram on Tuesday said the measures taken by the Government would bring down the inflation rate but the long-term solution to the problem lies in correcting the demand-supply mismatch in essential commodities.
''The demand-supply gap in wheat, pulses and edible oils, hardening of international prices of metals and crude oil, a rapid rise in credit, buoyant foreign investments and a high growth momentum have pushed up the inflation rate,'' said Mr Chidambaram. ''I am confident that RBI's monetary steps and government's fiscal measures will moderate inflation,'' he said.
UNI