India's inflation falls to minus 1.58 per cent | business | Hindustan Times
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India's inflation falls to minus 1.58 per cent

business Updated: Aug 06, 2009 13:52 IST

India's annual rate of inflation fell marginally to minus 1.58 for the week ending July 25 from minus 1.54 the week before, according to official data released in New Delhi on Thursday.

The rate turned negative for the week ended June 6 for the first time since the new wholesale price index (WPI) series started in 1995.

The inflation rate had last 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 index for primary articles rose by 0.4 per cent to 262.2 (provisional) from 261.1 (provisional) the week before, while that for manufactured products declined 0.1 per cent.

The price index for fuel and power remained unchanged at its previous week's level of 338.2 (provisional).

The final data for the week ended May 30 showed that the revised annual inflation rate actually stood at 0.90 per cent.