Inflation rate drops to a six-year low of 2.43 per cent

March 12th, 2009 - 7:40 pm ICT by ANI  

New Delhi, Mar 12 (ANI): Inflation has fallen to a more than a six-year low of 2.43 per cent for the week ended February 28, against the previous week’’s 3.03 per cent, government data showed on Thursday.
The annual inflation rate was 6.21 per cent during the corresponding week of the previous year.
The fall in the wholesale price index is mainly attributed to a fall in prices of manufactured products and some food items.
During the week, prices of steel ingots, batteries and nylon yarn declined.
While, the prices of maize, arhar dal and moong dal declined by one per cent each, prices of fuel remained unchanged at the previous week’’s level.
In an attempt to revive the economy, Reserve Bank of India has slashed the borrowing costs.
According to the experts, inflation is likely to fall below zero by March end this year. (ANI)

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