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Inflation remains low

Mumbai, Aug. 30 (PTI): The rate of inflation up to August 3 in the 2002-03 financial year continued to remain low and stood at 2.7 per cent, compared with 5.5 per cent a year ago.

All major groups saw a deceleration in inflation and on an average basis, the annual inflation rate consistently declined from 5.4 per cent to 2 per cent, the Reserve Bank of India said in its annual report for 2001-02 released here today.

On a point-to-point basis, the consumer price index for industrial workers (CPI-IW) showed an increase of 4.2 per cent as on June-end, compared with 3.4 per cent a year ago.

The fuel group inflation fell from 16.2 per cent to 5.6 per cent while that of primary articles and manufactured groups decelerated from 3.6 per cent and 2.9 per cent during 2001-02 to 2.3 per cent and 1.9 per cent respectively.

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