Inflation cools to 3.01%

Inflation cools to 3.01%

New Delhi: Inflation declined to 3.01% for the week that ended on 24 November, as food items, particularly vegetables, turned cheaper.

The wholesale price index-based inflation was 3.21% in the previous week and 5.55% in the same period last year.

The inflation has come close to Reserve Bank of India’s medium term target of 3%, but does not still offer any hope of interest rate cut as international crude prices are ruling high, analysts said.

Prices of vegetables fell by 9.6%.