Inflation falls marginally to minus 1.58%

Inflation falls marginally to minus 1.58%

Though inflation, based on the wholesale price index, declined by 0.04 percentage point against minus 1.54 per cent in the previous week, food articles like sea fish, pulses, fruit and vegetables, groundnut oil and sugar became dearer.

However, eggs, soyabean, oil cakes and imported edible oil became cheaper during the reporting week. Prices of fuel, power, and light and lubricants remained unchanged over the previous week.

No cause for worry
Meanwhile, think tank Indian Council for Research on International Economic Relations (ICRIER) has ruled out of any worries caused by the inflation and said that the deflatiionary phase is over.

 “WPI, which is in the negative zone, is an unnecessary distraction for policy making as prices of food and other commodities are going up,” ICRIER Director Rajiv Kumar said.
Inflation during the corresponding week last year was 12.53 per cent.

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