India's Inflation Rate Declines

India's inflation rate fell the most in at least 18 years, increasing speculation the central bank may make further unscheduled interest-rate cuts to shield the economy from a global slowdown. 11/13/2008 5:34:47 AM

Wholesale prices rose 8.98 percent in the week to Nov. 1 from a year earlier after gaining 10.72 percent in the previous week.  The 1.74 percentage point drop in the inflation index was the largest since 1990.

In rural and urban areas, inflation in the food and beverages category stood at 11.85 and 10.70 percent, respectively.

Sugar etc. were costlier by 19.61 percent on a nationwide basis in October over the same month last year, while oil and fats became dearer by 17.92 percent, pulses and products by 14.89 percent, and egg, fish and meat by 12.8 percent in the month.

Clothing, bedding, footwear became 10.47 percent more expensive on an annual basis, while fuel and light went up by 7.58 percent in October.