Inflation Eases To 3.23%

NEW DELHI: Inflation further eased to 3.23 per cent for the week ended September 15, compared to 3.32 per cent for the previous week, mainly due to fall in prices of fruits and vegetables, pulses, milk and some manufactured items.

The wholesale price-based index stood at 5.27 per cent in the corresponding week a year ago.

In the last few weeks, the inflation has been below the RBI forecast of close to 5 per cent for the current fiscal, fuelling expectations of a softer monetary stance in the upcoming half-yearly review of credit policy by the central bank.

Among manufactured items, coconut oil declined by 4 per cent, while zinc softened by 10 per cent followed by aluminium ingot and other aluminium materials.

However, prices of cement moved up by 0.2 per cent during the week followed by other items like steel furniture and hydraulic pump.