Inflation declines to 0.7% for the week

India’s annual rate of inflation, based on the whole sale price index, declined marginally to 0.7 percent for the week ended Sep 26, from 0.83 percent for the week before, due mainly to a drop in prices of food articles. Data released showed that while the index for primary articles was up as much as 9.49% during the 52-week period, that for manufactured products was up 0.48%. The index for fuels declined 7.91%. Inflation has been firming up since the week ended Sep 5 after 14 consecutive weeks of decline. It had turned negative for the week ended June 6 for the first time since the new wholesale price index series started in 1995. The worst is getting over on price rise. With a good Rabi (winter) crop, we should be able to cope with things, the prime minister said at an election rally in Ambala city of Haryana on Wednesday.