Inflation rate rises, still in negative zone
Thursday, 23 July 2009, 22:04 IST
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New Delhi: India's annual rate of inflation rose marginally to minus 1.17 percent for the week ended July 11 from minus 1.21 percent the week before, according to official data released here. India's annual rate of inflation turned negative for the week ended June 6 for the first time since the new wholesale price index (WPI) series started in 1995. The inflation rate had last turned negative in 1977. Negative inflation implies that the average wholesale price level was lower during a given week, than it was in the corresponding week a year ago. It does not necessarily reflect retail prices. The price index for primary articles rose 0.7 percent to 260.3 (provisional) from 258.5 (provisional) the week before, while that for manufactured products declined by 0.1 percent. The price index for fuel and power rose 0.1 percent to 338.4 (provisional) from 338.2 (provisional) for the previous week due to higher prices of aviation turbine fuel (7 percent). The final data for the week ended May 16 showed that the revised annual inflation rate actually stood at 1.65 percent.
Source: IANS
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