Inflation rate dips to 5.23%

New Delhi, March 24 | Updated: Mar 25 2005, 05:30am hrs
The annual rate of inflation on point-to-point basis dipped marginally to 5.23% for the week ended March 12 after rising for two consecutive weeks.

The rate of inflation, fell continously for several weeks to touch a low of 4.83% for the week ended February 19. Thereafter it firmed up to 5.30% for the week ended March 5 before again slipping marginally to 5.23%.

The point-to-point Wholesale Price Index (WPI) inflation fell by 0.07% even as fuel prices remained firm for the second week in a row.

The annual rate of inflation was 4.78% during the corresponding week a year-ago.

With global oil prices remaining stubbornly high due to multitude of reasons, markets apprehend sooner or later the oil public sector undertakings (PSUs) will have to increase the prices of petrol and diesel, which would have a ripple effect on inflation.