Inflation rate drops to 6 pc

NEW DELHI, June 1: Tight monetary measures coupled with easing of pressure on prices of edible and non-edible items resulted in a marginal ...

NEW DELHI, June 1: Tight monetary measures coupled with easing of pressure on prices of edible and non-edible items resulted in a marginal decline of 0.04 % in the inflation rate to 6 % during the week ended May 17. It was 6.04 % in the previous week.

For the first time in the current fiscal, the inflation rate had shown an upward trend when it rose to 6.04 % on May 10. However, it was below 5 % at 4.42 % (final) during the corresponding week last year .

The latest fall in the inflation rate was on account of substantial decline in prices of masur, poultry chicken, pork, vegetables, fodder, lac, newsprint, coconut oil and de-ammonium phosphate n-content. However, there has been a rise in prices of bidis, gur, sunflower seed, raw rubber and tea.The inflation rate has been ruling in a single digit for 111 successive weeks since April one 1995, though it has been behaving in a somewhat erratic manner.It has put aside the old record of 1993 when it reigned in the single digit of successive 52 weeks.For the first time in the current financial year, it declined below the 7 % mark.