The recent cut in oil prices announced by the government has pushed down the wholesale price index (WPI)-based inflation rate to 1.32 per cent for the week-ended January 19, its lowest level since the revised index was introduced in February 2000.
Inflation was 1.57 per cent in the previous week and 8.7 per cent in the corresponding week last year.
The inflation based on the final index for the week ended November 24 was 2.47 per cent, as against a level of 2.4 per cent reported on the basis of the provisional index.
At a disaggregated level, the index for the major group of fuel, power, light and lubricants fell by 1.2 per cent during the week.
The index for primary articles declined by 0.2 per cent while that for manufactured products dropped by 0.1 per cent.
The fall in the index for fuels was driven by a 8 per cent fall in prices of furnace oil, 7 per cent fall in naptha prices and 4 per cent fall in prices of kerosene and bitumin.
Petrol prices fell by 3 per cent, high-speed diesel oil and light diesel oil prices fell by 2 per cent each during the week.
Within the major group of primary articles, the index for minerals rose by 1.2 per cent mainly due to a sharp 31 per cent rise in magnesite prices and 8 per cent hike in bauxite prices.
Prices of asbestos, however, crashed by 33 per cent and those of ochre fell by 11 per cent.
The index for the non-food articles sub-group fell by 1.1 per cent mainly as a result of a 6 per cent fall in sunflower prices and a 5 per cent fall in soyabean prices. Prices of oilseeds as a whole fell by 2.6 per cent during the week.
