Amid a slowdown in industrial production and weak global commodity and fuel prices,inflation slid below the 6-per cent mark for the first time in more than 10 months today as the annual rate of wholesale price-based inflation for the week ending December 27 slipped to 5.91 per cent,down from 6.38 per cent in the previous week.
The department of economic affairs in the finance ministry issued a statement in response to the new data highlighting the fact that inflation has been consistently on a decline now for three months and stands slightly above the rate of 5.7 per cent in February last year. The statement went on to add that year-on-year inflation in each of the three commodity groups too has declined over the previous week.
Within primary articles,inflation rate in all its three sub-groups of food and non-food articles and minerals have declined together for the first time in the current week, it said. The deseasonalised rate of inflation,which measures inflation change over a shorter span of time as against annually,shows that inflation has been negative since September and stood at -13.5 per cent in December.
Amongst commodity groups,primary articles and manufactured products groups fell 0.5 per cent and 0.3 per cent respectively.