RTTNews - India's Finance Ministry said says that the inflation that entered into the negative zone after three decades will turn to positive by the end of the year, reports PTI. The ministry says that inflation will very likely turn to be positive before the year end and will be positive for the whole year of 2009-10.
Inflation turned negative during the week ended June 6, 2009 implying that the average wholesale price level was lower during the week than that of the corresponding week of last year. The decline in inflation is due to drop in price of fuel and power that declined because of the base effect.
The general prices of fuel and power were 12.7% lower during the week than those of the corresponding period a year ago. However, prices of cereals, pulses, eggs, meat and fish, sugar, khandsari and gur, common salt, and tea and 'coffee-processing', grew during the week.
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