Inflation declines to 7.14%

Raising hopes that the fiscal measures taken by the government are yielding results, inflation based on the wholesale price index (WPI) declined to 7.14% for the week ended April 5 from the previous week's level of 7.41%.

Inflation stood at 6.44% in the corresponding week of the previous year.

While prices of edible oils, fruit and condiments and spices declined, prices of vegetables, basic metals and alloys, including iron and steel, increased during the week ended April 5.

The government also revised the inflation rate for the week ended February 9 to 4.98% when compared with 4.35% reported earlier.