India's inflation falls to 5.25 percent

By agencies   |   Friday, 11 February 2005, 20:30 IST
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NEW DELHI: Inflation shed 0.12 percent to fall to eight months' low of 5.25 percent for the week ended January 29, despite costlier fruits and vegetables. The point-to-point Wholesale Price Index inflation fell from the previous week's 5.37 percent mainly due to fall in the price of edible oils, while fuel prices remained firm, notwithstanding the dip in global markets ahead of the OPEC meeting. The general price level was as high as 5.91 per cent in the previous year period. The Wholesale Price Index went up by 0.1 per cent to 188.5 points due to an increase in the price of mass consumption primary items like vegetables and fruits, and manufactured products including sugar and salt. The WPI was 179.1 in the year-ago period. The inflation rate had reached a peak of 8.7 percent for the week ended Aug 28 last year. The Reserve Bank of India had predicted the inflation rate to close fiscal 2004-05 at 6.5 percent in its credit policy unveiled in May, but revised the figure in October to 5.5 percent.