Inflation inches down to 5.55 per cent

Continuing its downward spree for the third consecutive week ended May 14, inflation ticked 5.55 per cent despite costlier food and fuel products. The widely tracked point-to-point wholesale price index (WPI) inflation fell from the previous week’s level of 5.61 per cent and it was 4.96 per cent in the year ago period since the prices of tea, vegetables and edible oils had fallen.

The FM had recently said there were pressures on inflation front due to huge money supply and spiralling global crude oil prices and vowed to keep a check on rise in the general price level. WPI rose by 0.1 per cent to 192.1 points. — PTI