India's inflation rate falls to 3.03 per cent

India's annual rate of inflation fell for the fifth consecutive week to 3.03 per cent for the week ended on Feb 21 from 3.36 per cent the week before, official data showed on Thursday.

India's annual rate of inflation fell for the fifth consecutive week to 3.03 per cent for the week ended on Feb 21 from 3.36 per cent the week before, official data showed on Thursday.

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The drop in the inflation rate, based on the official wholesale price index, was on account of a 0.1 per cent fall in the general index over the week.

While the index for primary articles fell 0.2 per cent, that for manufactured products also fell marginally by 0.1 per cent. The index for fuels, however, remained unchanged.

The statistics, released by the industry ministry, also showed that the inflation rate, based on revised estimates, was 5.86 per cent for the week ended on Dec 27, against 5.91 per cent reported earlier on the basis of provisional estimates.