New Delhi, July 30 (Inditop.com) India’s annual rate of inflation fell marginally to minus 1.54 percent for the week ending July 18 from minus 1.17 the week before, according to official data released here Thursday.
The rate turned negative for the week ended June 6 for the first time since the new wholesale price index (WPI) series started in 1995.
The inflation rate had last turned negative in 1977. Negative inflation implies that the average wholesale price level was lower during a given week, than it was in the corresponding week a year ago. It does not necessarily reflect retail prices.
The price index for primary articles rose 0.3 percent to 261.1 (provisional) from 260.3 (provisional) the week before, while that for manufactured products declined 0.1 percent.
The price index for fuel and power declined 0.1 percent to 338.2 (provisional) from 338.4 (provisional) for the previous week due to lower prices of aviation turbine fuel (7 percent).
The final data for the week ended May 23 showed that the revised annual inflation rate actually stood at 1.34 percent.
