Inflation slips to 11.44 percent on falling oil prices

New Delhi, Oct 16 (PTI) Inflation fell to 11.44 percent
for the week ending October 4 on account of decline in oil
prices and manufactured goods, giving some respite to the
government which is battling the impact of global meltdown.

The inflation was 11.80 percent a week ago.

The index for fuel prices declined by 1.1 percent on
account of lower prices of naphtha, aviation turbine fuel and
furnace oil.

The inflation figures were released in the first half
of the day, as against the normal practice of making the data
public on Thursday evening, even as the stock markets tumbled
by over 700 points by mid-day Thursday.

The rate of price rise eased mainly on account of prices
of those petroleum goods which are linked to international
crude prices that declined to below USD 75 a barrel in recent
weeks.

The prices of naphtha during the week declined by 11
percent, aviation fuel by 6 percent and furnace oil 5 percent.
Bitumen, however, became dearer by 4 percent.

In the manufactured goods category, the index, measured
movement in the wholesale prices, declined by 0.5 percent on
account of cheaper imported edible oil, steel, pig iron and
lead ingots.

However, in the foods category, several items like fruits
and vegetables, pulses and cereals became dearer during the
week.

The index for the week ending September August 9 was
revised up at 12.82 percent as against the provisional figure
of 12.63 percent.