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This is an archive article published on November 17, 1997

Inflation plunges to 3.23 percent

NEW DELHI, November 16: Continuing its southward march for the third successive week, the annual rate of inflation fell to a new low of 3.2...

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NEW DELHI, November 16: Continuing its southward march for the third successive week, the annual rate of inflation fell to a new low of 3.23 % during the week ended November 1. In the last three weeks, inflation, based on the Wholesale Price Index (WPI), has plunged by nearly a percentage point, taking it to striking distance of the all-time low of 2.97 per cent in 1986-87.The fall, despite recent hikes in prices of petroleum products and rail freight charges, is being attributed to slackening of demand in the economy. During the week, inflation fell by 0.22 percentage points to 3.23 per cent compared to 3.45 per cent last week and 6.72 per cent during the corresponding week last year. The inflation based on the final index rose to 4% for the week ending September 6.

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