New Delhi: Inflation continues to dip at 5.22pc

New Delhi, May 25: The annual rate of inflation continued to follow its downward trend to stand at 5.22 per cent for the week ended May 12 due to a drop in textiles and food product prices, from its four-month low of 5.44 per cent a week earlier.

The headline inflation rate, calculated on a point-to-point basis, stood at 4.63 per cent during the corresponding week of the previous year, according to official data issued here today.

The Government is trying to increase the supply of goods while moderating demand in order to curtail inflation, Finance Minister P Chidambaram has said.

''Wherever we can augment the supply, we are augmenting it, and wherever we can moderate the demand, we are moderating it,'' he said yesterday.

The wholesale prices-based inflation had declined to 5.44 per cent for the week ended May 5 from its previous week's high of 5.66 per cent.

Prime Minister Manmohan Singh has also exuded confidence that his Government will further bring down inflation to five per cent in the next couple of months.

UNI