After 13 weeks, inflation turns positive at 0.12 per cent
After remaining in negative zone for 13 consecutive weeks, India's annual rate of inflation was back to positive at 0.12 per cent for the week ended September 5, a rise from minus 0.12 per cent the week before.business Updated: Sep 17, 2009 15:54 IST
After remaining in negative zone for 13 consecutive weeks, India's annual rate of inflation was back to positive at 0.12 per cent for the week ended on September 5, a rise from minus 0.12 per cent the week before, according to official data released on Thursday.
The rate turned negative for the week ended on June 6 for the first time since the new wholesale price index (WPI) series started in 1995. The inflation rate had also turned negative in 1977.
Negative inflation implies that the average wholesale price level was lower during a given week than it was in the corresponding week a year ago. It does not necessarily reflect retail prices.
The price indices for primary articles, manufacturing products and fuel, power, light and lubricants rose for the week ended on September 5.
The index for primary articles rose 1.3 per cent to 274.7 (provisional) from 271.2 (provisional) the week before. Similarly the index for manufactured products also rose 0.1 per cent to 208.1 (provisional) from 207.9 (provisional).
The price index for fuel, power, light & lubricants also rose marginally to 343.4 (provisional) from 343.3 (provisional) for the previous week due to higher prices of bitumen (9 per cent), furnace oil and light diesel oil (4 per cent each) and aviation turbine fuel (2 per cent). However, the price of naphtha declined 7 per cent.