Indian inflation slides further, dips to 8.4%
Reports state that India is in for good news as its annual rate of inflation has dropped further to 8.4 percent for the week ended Nov 22 from 8.84 percent the week before its fall in prices of petroleum fuels. The annual inflation rate however was 3.11 percent during the corresponding week in the previous year. The official wholesale price index (WPI) for all commodities during this time has declined by 0.6 percent; from 235.1 for in the previous week to 233.7.
Wholesale prices released by the commerce and industry ministry showed that the index for primary articles, including food products, however, rose by 0.1 percent during the week under review. Another piece of good news however is that the index for fuels has declined to 2.3 percent due to a 23-percent decline in the prices of furnace oil, about 14 percent for aviation fuel and 11 percent for light diesel oil.
