India’s rate of inflation at 2.43 percent, lowest since June 2002

NEW DELHI - India’s annual rate of inflation fell further to 2.43 percent for the week ended Feb 28 from 3.03 the week before, official data showed Thursday.

The inflation figure was the lowest since June 2002.

The official wholesale price index however rose by 0.04 percent during the week.

While the index for primary articles rose by 0.2 percent, that for manufactured products fell marginally by 0.1 percent. The index for fuels remained unchanged for the second consecutive week.

The statistics, released by the industry ministry, also showed that the inflation rate, based on revised estimates, was 5.33 percent for the week ended Jan 3 this year, against 5.24 percent reported earlier on the basis of provisional estimates.