Inflation dipped 3.01% in the week ended 10 Nov 07

The market estimate stood at 3.20%

Annual inflation, based on the wholesale price index (WPI), dipped 3.01% in the week ended 10 November 2007 compared with 3.11% in the week ended 3 November 2007.

The market estimate stood at 3.20%. WPI stood at 5.39% in the corresponding week in the previous year.

The slight fall was due to lower prices of fruits, vegetables, condiments and spices. Prices of primary articles declined 0.4%.

Manufactured products became dearer by 0.1% from the previous week. The index for the fuel group remained unchanged.

Annual inflation rate for the week ended 15 September 2007 was revised upwards to 3.51% as opposed to 3.23% reported earlier.