NEW DELHI, June 8: Despite a substantial fall in the prices of edible items, the inflation rate remained unchanged at previous week's level of 6 % during week ended May 24.

It is for the first time in the current fiscal year that it had remained static. However, it was below 5 % at 4.45 per cent (final) during the corresponding week last year (May 25).

There has been a substantial decline in prices of bajra, raw rubber, mesta, fodder and copra. But masur, poultry chicken, barley, eggs, gur, malted food, nitric acid, bars rods, steel wires and aluminium rolled products became dearer during the period under review.

In contrast, the inflation rate based on consumer price index for industrial workers stood at 9.26% in April whereas based on WPI it was 6.63 % (average) in the same month.

The inflation rate has been ruling in single digits for 112 consecutive weeks since April 1, 1995 it has sent the old record of 1993 into oblivion when it reigned in the single digits in 52 successive weeks. The inflation rate, for the first time in the current fiscal year, declined below 7 % on April 5 to touch 6.99 % after remaining above 7 % for 16 weeks in a row.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.