Inflation eases below seven percent
Facebook Twitter google+ RSS Feed

Inflation eases below seven percent

Friday, 24 December 2004, 08:00 Hrs
Printer Print Email Email
NEW DELHI : Lower food and energy prices helped ease India's annual rate of inflation, based on wholesale prices, to below seven percent for the first time in six months, official data showed Friday.

Continuing its fall for the third consecutive week, inflation dipped to 6.73 percent from 7.02 percent in the week ended Dec 11 mainly due to cheaper vegetables and fuels, the data showed.

During the week under review, seasonal factors led to vegetables, fish, eggs and fruits becoming cheaper though coarse grains became dearer.

The inflation rate is expected to fall further in coming weeks when cheaper winter vegetables and other farm produce arrive in the market.

Finance Minister P. Chidambaram had earlier this month stressed the government would make an effort to tame the inflation rate to under four percent soon.

According to the Reserve Bank of India, inflationary pressures are expected to moderate over the coming months to around 6.5 percent, in line with projections made in the mid-term annual policy review, with the easing of oil prices and improved prospects of the rabi (summer) crop.

Source: IANS
Experts on SiliconIndia
Santhosh  K
Sr. Soft. Engg.
Oracle India
Nehal Vyas
Sr. Team Lead
Cyberoam Tech.
Rani Malli
Sr. Director
Sr. Executive
Vijay Balkrishna Konduskar
Business Consultant
Imans Web Tech
Dr L P  Sharma
Technical Director
Reena Khanna
Dellas  Asse
sys-network admin
Computer Station
Write your comment now
Submit Reset