Inflation dips to 8.90% from previous 8.98%

Inflation dips to 8.90% from previous 8.98%

New Delhi: India’s wholesale price index rose 8.90% in the 12 months to 8 November, marginally below the previous week’s annual rise of 8.98%, government data showed on Thursday.

The rate was a shade below a median forecast of 8.99% in a Reuters poll of analysts. Inflation for the week ended 13 September was revised up to 12.42% from 12.14%.

The annual inflation rate was 3.20% during the corresponding week of the previous year.

The wholesale price index is more closely watched than the consumer price index, which is published monthly, because it covers a higher number of products and is released weekly.