NEW DELHI (Commodity Online) : India’s inflation rate based on wholesale prices rose marginally to minus 1.53 percent for the week ended August 8 against (-)1.74 per cent in the previous week.

An official release issued here by the commerce ministry also showed that food articles index surged 10.5 percent compared with a year ago as a weak monsoon hit crops.



It was the second week in a row that the food price index saw growth of at least 10 percent. Inflation in the corresponding week in the previous year was 12.82 per cent.

However, the price index for fuel and power saw a marginal delcine to 338.2 from 338.3 the week before.

India inflation turned negative for the week ended June 6 for the first time since the new wholesale price index series started in 1995.

It last turned negative in 1977. Negative inflation implies that the average wholesale price level was lower during a given week, than it was in the corresponding week a year ago. It does not necessarily reflect retail prices.

The final data for the week ended June 13 showed that the revised annual inflation rate actually stood at minus 1.14 percent.

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