Inflation based on the wholesale price index (WPI) declined to below 4% for the first time in more than 15 months to 3.94% for the week ended August 18 as against 4.10% in the previous week.Before the week under review, inflation was below this level only during the week ended April 29, 2006.The latest number also assumes importance as it was 5.12% in the corresponding period last year.Although prices of essential food items like vegetables, fruits, milk, eggs, meat and fish increased, prices of most manufactured products and non-food primary articles declined.
