Wednesday, June 17, 2009

Inflation drops to negative, at -1.61 for week ended June 6

Inflation for week ended June 6 was at -1.61% in the 12 months to June 6, compared with the previous week's annual rise of 0.13 percent. Inflation has dropped to negative for the first time since 1977-78.

It was worse than a median forecast of an annual fall of 1.52 percent in a Reuters poll of analysts.

The annual inflation rate was 11.66 percent during the corresponding week of the previous year.

The wholesale price index is more closely watched than the consumer price index, which is published monthly, because it covers a higher number of products and is released weekly.

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