India's inflation rate rises marginally | business | Hindustan Times
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India's inflation rate rises marginally

business Updated: Jun 25, 2009 17:39 IST

Inflation recorded at minus 1.14 per cent for the week ending June 13 against (-)1.61 per cent in the previous week even as prices of food items like pulses, cereals, and fruit and vegetables increased compared to last year.

This is the second week in a row when inflation remained in negative territory.

The wholesale price index stood at 11.80 per cent during the corresponding week a year ago.

Low inflation is prompting banks to cut interest rates. On Thursday, State Bank of India reduced the benchmark lending rate by half a percentage point, leading to cheaper home, car and corporate loans.

During the week, tea became expensive by 2 per cent and arhar by 1 per cent.

At the same time, fuel items like aviation turbine fuel surged by a whopping 12 per cent, light diesel oil by 10 per cent and furnace oil by 3 per cent.