India’s inflation dips sharply to historic low of 0.44 percentMarch 19th, 2009 - 1:59 pm ICT by IANS
New Delhi, March 19 (IANS) India’s annual rate of inflation fell by as much as 200 basis points to a historic low of 0.44 percent for the week ended March 7 against 2.43 percent for the week before, official data showed Thursday.
The statistics on wholesale price index, released by the commerce and industry ministry here, showed that the inflation rate dropped to an all-time low because of a decline of 1 percent in the index for primary articles and 0.8 percent in that for fuels over the week.
The index for manufactured articles remained unaltered.
Economists explain that low inflation rate does not necessarily mean that prices have fallen. Lower inflation rate only means the rate of rise in prices has come down, not the actual prices.
Tags: annual rate of inflation, basis points, decline, economists, India, industry ministry, inflation dips, inflation rate, march 19, New Delhi, rate of inflation, statistics, week ended march, wholesale, wholesale price index