NEW DELHI, July 13: The annual rate of inflation moved up slightly to close the week ended June 28 at 5.91 per cent, but is likely to come down sharply next week.

Inflation might fall below five per cent next week as the wholesale price index (WPI) had moved sharply in the corresponding week last year due to the increase in petroleum prices.

The annual inflation (provisional), calculated on a point-to-point basis, went up by 0.1 percentage points to 5.91 per cent in the reference week from 5.81 per cent the week before.The rate of inflation, which was at 4.2 per cent during the corresponding week last year, jumped to 5.8 per cent.The official WPI for `all commodities' recorded a 0.1 per cent rise 324.5 (provisional) during the week.

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