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This is an archive article published on December 25, 2004
Inflation finally falls below 7 pc
For the first time in six months, inflation, or wholesale price index, dipped to 6.73 per cent for the week ended December 11, due to lower ...
For the first time in six months, inflation, or wholesale price index, dipped to 6.73 per cent for the week ended December 11, due to lower food and energy prices, government data showed on Friday.
The rate stood at 5.8 per cent in the year to the corresponding week in the previous year. The point-to-point wholesale price index wpi inflation was down by 0.29 per cent, to a 21-week low in the latest reported week, from the previous level of 7.02 per cent.
The Reserve Bank, in its report on Friday, said with the easing of oil prices and improved rabi crop, inflation was expected to moderate over the coming months in line with 6.5 per cent projection made in the mid-term policy review and Finance Minister P. Chidambaram8217;s assertion that the 8220;worse is over8221; on the price line.
Under the impact of measures taken by the Centre and RBI, the WPI fell 0.2 per cent to 188.7 points even as heavyweighted manufactured products became costlier. The index was 176.8 points in the previous year period.
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