India’s inflation drops further to 8.9 percent

By IANS,

New Delhi : India’s annual rate of inflation fell further to 8.9 percent for the week ended Nov 8, from 8.98 percent for the week before, fresh data showed Thursday.

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The fall in inflation rate was the result of a 0.2 percent drop in the official wholesale price index (WPI) during the week. The index for fuels fell by 0.9 percent, while that for manufactured goods declined 0.2 percent.

The statistics released by the commerce and industry ministry also pointed out that the index for primary articles, which has a weight of 22.02 percent in the general index, rose by 0.4 percent during the week under review.

The annual rate of inflation stood at 3.2 percent during the corresponding week last year.