India’s inflation drops further to 8.4 percent

December 4th, 2008 - 3:33 pm ICT by IANS  

New Delhi, Dec 4 (IANS) India’s annual rate of inflation dropped further to 8.4 percent for the week ended Nov 22 from 8.84 percent the week before due to a fall in prices of petroleum fuels, according to fresh data released Thursday.The annual inflation rate was 3.11 percent during the corresponding week the previous year.

The official wholesale price index (WPI) for all commodities during the week declined by 0.6 percent to 233.7 from 235.1 for the previous week.

Data on wholesale prices released by the commerce and industry ministry showed that the index for primary articles, which includes food products, however, rose by 0.1 percent during the week under review.

The index for fuels declined 2.3 percent due to a 23-percent decline in the prices of furnace oil, 14 percent for aviation fuel and 11 percent for light diesel oil.

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