Inflation slips to a seven year low of 3.03 percent

March 5th, 2009 - 5:15 pm ICT by ANI  

New Delhi, Mar 5 (ANI): The inflation rate dipped further on Thursday due to the falling prices of fuel and food items. It went down to a six-and-a-half-year low of 3.03 percent.

As measured by the wholesale price index (WPI), inflation fell down to 3.03 percent in the week ending February 21 from 3.36 percent a week earlier.

Inflation fell down by 0.33 percentage points from 3.36 percent a week ago.

This is the fifth consecutive week that inflation has fallen.

Economists expect inflation to reach zero by this fiscal.

The prices of petrol, diesel and cooking gas dropped during the week.

While most of the food items became cheaper, items like sugar and ghee turned marginally expensive.

The prices of most of the manufactured products also dropped during the week. (ANI)

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