Inflation falls to minus 1.74 percent

The rate turned negative for the week ended June 6 for the first time since the new wholesale price index (WPI) series started in 1995.

The inflation rate had last turned negative in 1977. Negative inflation implies that the average wholesale price level was lower during a given week, than it was in the corresponding week a year ago. It does not necessarily reflect retail prices.

Both the price indices for primary articles and manufactured products rose 0.1 percent.

While the index for primary articles rose 0.1 percent to 262.5 (provisional) from 262.2 (provisional) the week before, the index for manufactured products rose 0.1 percent to 205.9 (provisional) from 205.6 (provisional) for the previous week.

The price index for fuel and power also saw a marginal rise to 338.3 (provisional) from 338.2 (provisional) the week before.

The final data for the week ended June 6 showed that the revised annual inflation rate actually stood at minus 1.01 percent.