Inflation slips to 5.07 percentFebruary 5th, 2009 - 3:01 pm ICT by ANI
New Delhi, Feb 5 (ANI): After rising consecutively for two weeks, the inflation figures showed a slip to 5.07 percent.
The inflation rates declined primarily due to falling prices of fruits and vegetables and manufactured goods, encouraging policy rate cuts by the Reserve Bank to boost the industrial sector.
The prices of fruits, vegetables and bajra declined by two percent, while the coffee rates fell by one percent.
Raw rubber, groundnut seed and gingerly seed became cheaper by six percent, three percent and one percent respectively.
The prices of steel ingots, aluminium products and bars and rods also dropped during the period.
The index of manufactured products dipped by 0.5 per cent due to fall in prices of rice bran oil, khandsari and coffee powder.
The index of the textile industries fell by 0.1 percent due to lower prices of woollen cloth, sacking bags and hessian cloth.
However, the fuel index rose by 0.6 percent as the prices of Naphtha increased by fifteen percent, furnace oil by two percent and light diesel oil by two percent.
Inflation has slipped by 0.57 percentage points for the week ended 24th January from 5.64 in the previous week. It was 4.78 per cent a year ago. (ANI)
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