Inflation Inches Closer To 5% Target

New Delhi: The Finance Minister, Mr P. Chidambaram, said on May 31, that the inflation has declined to 5.06 per cent for the week ended May 19 from 5.27 per cent in the previous week. The key wholesale price inflation rate is usually declared at noon every Friday. Inflation has been falling for four consecutive weeks. The Committee reviewed the situation and the inflation has come down again. The annual rate of inflation, calculated on point-to-point basis, stood at 5.44 per cent (Provisional) for the week ended May 5 as compared to 5.66 per cent (Provisional) for the preceeding week.