By IANS,
New Delhi : Maintaining a downward trend for the third week in a row, India’s inflation moderated to 12.1 percent for the week ended Aug 30, as compared to 12.34 percent for the week before.
The moderation in inflation comes as a big solace to the government and policy makers, who had predicted softening in inflationary trends in view of a good monsoon and monetary measures taken by the Reserve Bank of India to control price rise.
According to the official wholesale price index (WPI) or the index to calculate inflation released by ministry of commerce and industry Thursday, however, showed an increase of 0.3 percent in the price index for primary articles.
“The annual rate of inflation, calculated on point-to point basis stood at 12.1 percent (provisional) for the week ended Aug 30,” the ministry said in a statement.
The annual rate of inflation was only 3.72 percent Sep 1, 2007.
“Nineteen primary articles like rice, maize, onions, pulses and potatoes showed a decline in prices while there was no increase in the prices of another 61 primary articles,” the finance ministry in a statement said soon after the data was released.
“Annual rate of inflation further moderated to 12.1 percent as compared to 12.34 percent reported a week earlier, and 12.63 percent for the week ending Aug 9,” the ministry added.
The final index for the week ended July 5 stood at 239.3 as compared to 238.7 (provisional) and annual rate of inflation based on final index, calculated on point-to point basis stood at 12.19 percent as compared to 11.91 percent (provisional).