Inflation drops to lowest in seven months

Inflation dropped to 8% for week ended Nov 29 against 8.4% in the previous week. India's inflation, based on the wholesale price index (WPI), further cooled off and was inline with the expectations in the week through November 29. Inflation declined due to a drop in food products and primary articles, the Government announced on Thursday.

The index for fuel, power, lubricants, lights and manufactured products remained unchanged. The annual point-to-point inflation was 8.00% in the week ended Nov. 29 versus 8.4% in the previous week, the Commerce & Industry Ministry said. Inflation had touched a 16-year peak of 12.91% in August.

Inflation was expected to come in at 7.97% - 8%. Meanwhile, the Government revised the inflation rate for the week ended Oct. 4 to 11.49% from a preliminary estimate of 11.44%