India’s inflation slips into negative zone

June 18th, 2009 - 1:36 pm ICT by IANS  

Mumbai, June 18 (IANS) For the first time since the new wholesale price index (WPI) series started in 1995, India’s annual rate of inflation turned negative, falling to minus 1.61 percent for the week ended June 6, official data showed Thursday.
The inflation rate, which was 0.13 percent in the previous week, had last turned negative in 1977.

The WPI for all commodities rose 0.04 percent primarily due to a rise in the indices for non-food articles, manufactured products, and fuel, power, light and lubricants, as per data released by the commerce and industry ministry.

While the index for primary articles declined 0.7 percent, that for fuel and power rose 0.7 percent. The index for manufactured products rose 0.1 percent.

The final data for the week ended April 11 showed that the revised annual inflation rate actually stood at 0.96 percent as against 0.26 percent reported earlier based on provisional figures.

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