Inflation in January slips to 6.55 percentFebruary 14th, 2012 - 2:08 pm ICT by IANS
New Delhi, Feb 14 (IANS) India’s annual inflation slipped to 6.55 percent in January, lower than what was expected and at its slowest in 26 months, bringing relief to the policymakers and raising hopes of a rate cut by the Reserve Bank of India (RBI) sooner.
Inflation, based on wholesale prices, was logged at 7.47 percent in January.
The RBI had predicted overall inflation to be around 7 percent by March-end. The central bank had said that it was willing to wait until inflation came firmly under control before initiating rate cuts.
The primary articles index rose 2.25 percent, while that for food registered a negative growth of - 0.52 percent in the month under review, according to data released by the ministry of commerce and industry Thursday.
Manufactured products, the biggest constituent in the wholesale price index, rose by 6.49 percent, while inflation for fuel increased 14.21 percent.
The figures for November were revised upwards to 9.46 percent, compared to the provisional figure of 9.11 percent.
- Inflation slips, Pranab expects it at 6 percent by March-end (Lead) - Feb 14, 2012
- Inflation rises to 6.95 percent in February - Mar 14, 2012
- Inflation falls to 6.89 percent in March - Apr 16, 2012
- Inflation continues to remain high, rate hike likely again - Oct 14, 2011
- Inflation nudges up in June, close to double digits - Jul 14, 2011
- Inflation inches up, analysts expect rate hike (Lead) - Jul 14, 2011
- After poor factory output, India's inflation nudging double-digit - Sep 14, 2011
- No respite from inflation, rises to 9.06 percent in May - Jun 14, 2011
- Inflation declines marginally, RBI rate cut seen (Roundup) - Apr 16, 2012
- Rate hikes not curbing inflation, only hampering growth: Industry - Sep 16, 2011
- Pranab expresses concern as inflation rises to 9.44 percent - Jul 14, 2011
- Prime Minister meets top officials on curbing inflation - Oct 15, 2011
- India's inflation soars to 7.55 percent in August (Lead) - Sep 14, 2012
- No respite from inflation, rises to 9.06 percent in May (Lead) - Jun 14, 2011
- Inflation rises to 8.62 percent in September - Oct 15, 2010
Tags: articles index, bank of india, constituent, feb 14, inflation, ministry of commerce, New Delhi, policymakers, provisional figure, rbi, reserve bank of india, slips, wholesale, wholesale price index, wholesale prices