India’s inflation rate falls for fifth straight week, 3.03 percent now

March 5th, 2009 - 1:53 pm ICT by IANS  

New Delhi, March 5 (IANS) India’s annual rate of inflation fell for the fifth consecutive week to 3.03 percent for the week ended Feb 21 from 3.36 percent the week before, official data showed Thursday.
The drop in the inflation rate, based on the official wholesale price index, was on account of a 0.1 percent fall in the general index over the week.

While the index for primary articles fell 0.2 percent, that for manufactured products also fell marginally by 0.1 percent. The index for fuels, however, remained unchanged.

The statistics, released by the industry ministry, also showed that the inflation rate, based on revised estimates, was 5.86 percent for the week ended Dec 27, against 5.91 percent reported earlier on the basis of provisional estimates.

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