Inflation moderates further to 12.34% for the week ended August 23

The wholesale price index (WPI) based inflation rate on a Year-on-Year basis for the week ended August 23 further moderated to 12.34% from 12.40% for the week ended August 16, 2008. The inflation figures have declined for the second consecutive week.

The decline in the inflation figure for the week was contributed by decline in the primary articles by 0.4%, while fuel and power remained unchanged for the week. On the other hand, manufacturing and food products moved up by 0.2% each.