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Inflation retains negative slide at -1.14%

Inflation retains negative slide at -1.14%
PTI
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First Published: Thu, Jun 25 2009. 12 44 PM IST
Updated: Thu, Jun 25 2009. 12 44 PM IST
New Delhi: Inflation rose marginally to -1.14% for the week ended 13 June against -1.61% 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% during the corresponding week a year ago. Low inflation is prompting banks to cut interest rates.
On Wednesday, 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% and arhar by 1%.
At the same time, fuel items like aviation turbine fuel surged by a whopping 12%, light diesel oil by 10% and furnace oil by 3%.
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First Published: Thu, Jun 25 2009. 12 44 PM IST