| Inflation dips to 4.07% |
| India Infoline News Service / Mumbai Feb 15, 2008 12:17 |
| However, with the Government effecting a modest increase in petrol and diesel prices the wholesale inflation rate is most likely to shoot up in two weeks` time |
India's inflation, based on the wholesale price index (WPI), declined marginally in early part of February but the rate will surely rise over the next couple of weeks after the Government hiked fuel prices for the first time in one and a half years. The annual point-to-point inflation fell to 4.07% in the week ended Feb. 2, 2008 as against 4.11% in the previous week, the Commerce & Industry Minister said today. The figure was better than the average estimate of a slight increase. It was also lower compared to the same period last year, when the annual inflation rate was 6.58%. Yesterday, the Government hiked petrol and diesel prices by Rs2 and Re1, respectively while leaving the price of PDS Kerosene and domestic cooking gas unchanged. This is likely to affect inflation when the data for the week ended Feb. 16 is released two weeks from now. |
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