India’s inflation rate falls to 3.36 percent (Lead)February 26th, 2009 - 3:46 pm ICT by IANS
New Delhi, Feb 26 (IANS) India’s annual rate of inflation fell further in the week ended Feb 14 to 3.36 percent from 3.92 percent the week before, official data showed Thursday.
The inflation rate, based on the official wholesale price index (WPI), stood at 5.66 percent in the corresponding week of the previous fiscal, statistics released by the industry ministry here showed.
The WPI for all commodities declined 0.1 percent to 227.8 (provisional) from 228 (provisional) the week before.
The index for primary articles rose 0.1 percent to 248.1 (provisional) from 248 (provisional) for the previous week, while that for manufactured products declined 0.1 percent to 199.5 (provisional) from 199.7 (provisional) the week before.
The index for fuel, power, light and lubricants, however, remained unchanged at its previous week’s level of 323.5 (provisional).
Commenting on the lowering of inflation, D.K. Joshi, principal economist at credit rating agency Crisil, said the fall in inflation rate was due to the fall in price of commodities.
Dalip Kumar, the head of projects at the National Council of Applied Economics Research (NCAER), a Delhi-based think tank, said the inflation rate would moderate further as prices of fruits and vegetables have come down.