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Inflation eases on lower food, energy prices
Friday, 17 December 2004, 20:30 IST
NEW DELHI: Lower food and energy prices helped ease India's annual rate of inflation based on wholesale prices to 7.02 percent for the week ended Dec 4 from 7.30 percent for the previous week .
The country's inflation rate based on the official wholesale price index stood at 5.56 percent for the corresponding week of 2003.
During the week under review, seasonal factors led the prices of vegetables to drop by eight percent. Prices of fish fell five percent, eggs were down three percent and fruits cheaper by two percent, even as coarse grains became dearer.
While the index for manufactured products remained virtually unchanged, that for the fuels group was down 0.2 percent. Prices of aviation turbine fuel fell by eight percent and furnace oil by two percent, among other commodities.
Finance Minister P. Chidambaram said earlier this week that that government would make an effort to tame the inflation rate to under four percent soon.
Source: IANS
Source: IANS