Inflation dips to 0.48 percent after four-week rise

May 14th, 2009 - 2:09 pm ICT by IANS  

New Delhi, May 14 (IANS) India’s annual rate of inflation fell to 0.48 percent for the week ended May 2 from 0.7 the week before, official data showed Thursday.
The annual rate of inflation has been rising for four consecutive weeks since the week ended April 4, when it was at 0.18 percent, and continued to rise to reach 0.7 percent the week ended April 26 before dipping to 0.48 percent.

Among the three main commodity groups, the indices for manufactured products and primary articles both rose 0.4 percent.

The index for fuel, power, light and lubricants rose 0.2 percent to 323.7 (provisional) from 323 (provisional) for the previous week due to higher prices of furnace oil, naphtha and light diesel oil.

However, the index of bitumen and aviation turbine fuel declined 1 percent.

Between May 2 and April 26, the wholesale price index rose 0.4 percent to 231.6 (provisional) from 230.7 (provisional) the week before, data released by the commerce and industry ministry showed.

Declining inflation rate does not necessarily mean that prices have fallen, but that the rate of rise in prices has come down, not the actual prices.

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