India’s annual rate of inflation was minus 0.21 per cent for the week ended Aug 22, up from minus 0.95 per cent the week before, according to official data released on Thursday.
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.
The price indices for all major commodity groups rose for the week ended Aug 22.
While the index for primary articles rose 0.7 per cent to 270.4 (provisional) from 268.4 (provisional) the week before, the index for manufactured products rose 0.5 per cent to 207.5 (provisional) from 206.4 (provisional).
The price index for fuel and power saw a greater rise, gaining 1.5 per cent to 343.3 (provisional) from its previous week’s level of 338.2 (provisional).
The final data for the week ended June 27 showed that the revised annual inflation rate actually stood at minus 1.09 per cent.
