Inflation moderates to 12.34 percent

September 4th, 2008 - 7:56 pm ICT by IANS  

New Delhi, Sep 4 (IANS) In a big relief to the policy makers, India’s inflation further moderated to 12.34 percent for the week ended Aug 23 as compared to 12.4 percent for the week before.This was the second successive week that the inflation rate has come down after weeks of relentless rise.

The official data released by the Ministry of Commerce and Industry Thursday put the wholesale price index (WPI) at 240.3 (provisional) from 240.2 (provisional) for the previous week.

The price index for primary articles declined 0.4 percent, while that of manufactured products rose 0.2 percent.

The price index for fuel, power, light and lubricants remained unchanged at 376.2 (provisional).

The annual rate of inflation based on the final index, calculated on a point-to-point basis, stood at 12.03 percent for the week ended June 28, as compared to 11.89 percent (provisional).

The price index for non-food articles rose 0.4 percent due to higher prices of raw silk (14 percent), raw cotton (three percent) and copra (one percent).

The prices of tea moved up three percent and that of egg, condiments and spices one percent each.

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