NEW DELHI, June 15: Thanks to strict monetary measures, the inflation rate fell to its lowest in 400 weeks to 5.93 per cent during the week ended May 31. It was six per cent in the preceding week.

This is also the lowest inflation rate recorded in the current fiscal year. However, it was below the five per cent mark at 4.77 per cent (final) during the corresponding week last year (June 1).

The minuscule fall of 0.07 per cent in the inflation rate was account of declining prices of barley, vegetables, poultry chicken, raw jute, sunflower seed, lac and coconut oil. But the prices of eggs, leather soles, angles, channels, sections and heavy rails shot up substantially during the week under review. The inflation rate has been in single digit for 113 successive weeks since April 1 1995.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.