India’s Inflation Slows During Week Ended August 23

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12:53 GMT

Sep 2008

India’s Inflation Slows During Week Ended August 23

(RTTNews) - India’s inflation, based on the wholesale price index fell to 12.34% during the week ended August 23 from 12.40% recorded during the week ended August 16, the Ministry of Commerce Industry said in a report Thursday. A year ago, the annual rate of inflation stood at 3.94% during the corresponding week. Economists had expected inflation to reach 12.44%.

According to the ministry, inflation eased mainly due to a decrease in prices of food products. At the same time, costs for fuel, power, light and lubricant remained unchanged.

Further, the ministry revised inflation figure for the week ended June 28 to 12.03% from an 11.89% initially reported.

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