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May 18, 2007
Inflation declined to 5.44 per cent from 5.66
Inflation declined to 5.44 per cent for the week ended May 5 against 5.66 per cent in the previous week owing to lower prices of essential food items and some manufactured products.The wholesale price-based inflation stood at 4.37 per cent during the corresponding week of previous year.
The decline in inflation would ease pressure on the Reserve Bank to take any monetary tightening measures after refraining from them in its annual monetary policy.This is some good news for the Banking sector .
Posted by rupya at May 18, 2007 4:45 PM