India’s inflation rate eases marginally

May 23rd, 2008 - 1:55 pm ICT by admin  

A file-photo of Manmohan Singh

New Delhi, May 23 (IANS) India’s annual rate of inflation eased marginally to 7.82 percent for the week ended May 10 from 7.83 percent for the week before, official data showed Friday. The fresh data on the wholesale price index (WPI) came against the backdrop of global crude oil prices breaching the $135 per barrel mark, resulting in further losses for oil marketing companies in India.

Prime Minister Manmohan Singh hopes the prices will start falling from September on account of the measures taken by the government and the central bank over the past month.

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