It was 5.23 per cent in the previous week.

However, it was orbiting under the five per cent mark at 4.86 per cent during the corresponding week last year. It had been in the five per cent realm for the fourth week in succession since February 20 when it breached the five per cent mark after a gap of six weeks. It was for second time in four weeks that it had touched 5.14 per cent. The earlier occasion was on February 20 when it stood at 5.14 per cent.

The recent 0.09 per cent slump in the inflation rate was attributed to the drop in the prices of arhar, masur, eggs, rice bran oil, linseed oil and enamelled copper wires. But jowar, raw jute, jam, jellies, marmalades, maize starch and oxygen became costlier during the week under review. The last week's dip in the inflation was despite the hike in high speed dieselprices.

The inflation rate had been in single digits reign for 207 weeks at a stretch, erasing the old record of 1993 when it stood in single digits for continuous 52 weeks.

It had fallen for the second consecutive week despite predictions that it would go up due to rail freight hikes and budgetary measures.

It had been zig-zagging for the major part of last year due to unprecedented rise in vegetables and essential commodities prices.

On January 9, it plummeted to its 57- week low of 4.43 per cent due to diesel prices coming down significantly. This drop was the lowest since December 13, 1997 when it registered 4.31 per cent.

During the last week of 1998, (December 26), the inflation rate had fallen by 0.87 per cent to 5.34 per cent from 6.21 per cent in the previous week which was the steepest decline in the current fiscal. This downward trend was on account of the prices of vegetables and edible oils coming down. It had touched the five per cent after a gap of 35 weeks.

The inflation rate basedon consumer price index for industrial workers had once again touched the single digit to 9.38 per cent in January after staying in double digits for the successive eight months. This fall was due to retail prices of vegetables and essential commodities declining. However, average inflation rate based on WPI was just 4.66 per cent in January.

Due to fall in the indices of non-food articles, food products and non-metallic mineral products, the official wholesale price index for all commodities (base 1981-82) declined by 0.1 per cent to 353.8 on March 13 from 354.1 after witnessing downward in the previous week. The final wholesale price index for all commodities (base 1981-82) stood at 353.3 on January 16 as against the provisional index of 353.

The inflation rate based on final index worked out to 4.53 per cent in contrast to 4.44 per cent based on provisional data.

With arhar, masur and eggs prices going down by three per cent each, condiments and spices prices down by two per cent, wheat and ragiprices moved down by one per cent each, the index for food articles, under the primary articles group, dipped marginally to 438.9 from 439.1. But jowar prices shot up by four per cent, maize, barley and milk prices rose by one per cent each.

As raw cotton, raw tobacco and fodder prices dropped by two per cent each, rape seed, mustard seed, linseed soyabean and lac prices came down by one per cent each, the index for non-food articles went down by 0.5 per cent to 384 from 385.9. But raw jute became dearer by three per cent and copra prices moved up by one per cent.

The index for food products, under manufactured products group, declined by 0.3 per cent to 342.6 from 343.5 because rice bran oil prices fell by two per cent, ghee, atta, solvent extracted groundnut oil, rape seed oil, mustard seed oil and oil cakes became cheaper by one per cent each. But jams/jellies/ marmalades prices shot up seven per cent, maize starch prices moved up by three per cent and coconut oil prices up by one per cent.

Withoxygen prices shooting up by four per cent, drugs and medicines prices up by two per cent, the index for chemicals and chemical products rose by 0.2 per cent to 289.4 from 288.8. But linseed oil prices dropped by three per cent, titanium dioxide and acetylene became cheaper by two per cent each, caustic soda and castor oil prices fell by one per cent each.

A two per cent slide in the cement prices made the index for non-metallic mineral products come down by 0.5 per cent to 366 from 367.8.

The index for machinery and machine tools rose by 0.1 per cent to 303 from 302.8 because lathes became dearer by two per cent, diesel engines, road rollers and fluorescent tubes prices up by one per cent each.

But enamelled copper wires became cheaper by five per cent and electric motors (phase three hp) up by one per cent.

A slender one per cent hike in prices of house service meters pulled up the index for other miscellaneous manufacturing industries by 0.1 per cent to 181.5 from 181.4. The index for fuel, power,light and lubricants remained unchanged at its previous weeks level of 379.5. Other indices that remained static were minerals, beverages, tobacco and tobacco products, textiles, wood and wood products, paper and paper products, leather and leather products, rubber and plastic products, basic metals, alloys and metal products and transport equipment and parts.