Win-win for Mamohan: inflation dips after trust vote

DOWN SLIDE: There is good news for UPA Government as inflation has dropped by 0.02 per cent.

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New Delhi: After the trust vote win there is more good news for the Congress-led United Progressive Alliance Government. Inflation for the week ended July 12 has dropped and is at 11.89 per cent versus 11.91 per cent for the week ending July 5, which was a 13-year-high.

It is the first time in seven weeks that the inflation rate has come down. The 0.02 per cent fall is mainly on account of a high base effect and moderation in prices of food items like sea fish, tea and imported edible oils.

It was 4.76 per cent during the corresponding week a year ago.

According to a Finance Ministry statement, out of 98 primary articles, prices of 10 items have shown a decline, while 54 items showed no increase.

Certain commodities like coffee, fruits and vegetables, mutton and certain pulses like urad, moong and arhar have became expensive during the week.

Inflation had been rising continuously since February mainly on account of higher fuel prices, food items and some important commodities like cement, iron and steel.

(With inputs from PTI)