Inflation falls to 0.48%

After increasing for three consecutive weeks, inflation fell to 0.48 per cent for the week ended May 2 against 0.70 per cent in the previous week despite rise in prices of food prices like pulses, cereals and vegetables.

The wholesale price-based index stood at 8.73 per cent during the corresponding week a year ago. This is the ninth week in a row when inflation stood below one per cent.

During the week, prices of fruit declined while those of tea, bajra, pulses, and spices were expensive.

At the same time, prices of jet fuel and bitumen fell.  Among manufactured products, imported edible oil and sugar were expensive. Elsewhere, pesticides were dearer by 33 per cent and benzene by 27 per cent.