Inflation declines to new low of 3.45%

NEW DELHI, November 9: Annual inflation plunged to a 11-year low of 3.45 per cent for the week ended October 25 even though there was no ma...

NEW DELHI, November 9: Annual inflation plunged to a 11-year low of 3.45 per cent for the week ended October 25 even though there was no major fluctuations in commodity prices from the previous week.

The annual rate of inflation, calculated on a point-to-point basis, fell by a massive 0.52 percentage points during the week to 3.45 per cent from 3.97 per cent in the previous week.

The drastic fall in the inflation based on the Wholesale Price Index (WPI) during the week is mainly due to relative stability in the prices of primary food articles compared to a substantial increase in the prices of the same in the corresponding week last year.

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The prices of primary food articles went down by 0.2 per cent during the week compared to a 1.8 per cent increase for the same in the corresponding week last year.

Consequently, the inflation also had increased from 6.44 to 6.84 per cent in the corresponding week last year.

The previous lowest was in 1986-87 when the annual rate of inflation went below the three per cent-mark for just one week.

Meanwhile, the index for `all commodities’ (base 1981-82-100) fell marginally to 329.7 (provisional) during the week from 329.8 (P) the week before.

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