Inflation falls to 7-month low of 8%

Inflation fell for the fifth consecutive week to a seven-and-a-half-month low of 8% due to cheaper food items.Wholesale price inflation came down by 0.4% for the week ended November 29, from 8.40% a week ago and is expected to come down further when the data is released next week, as then fuel prices cuts would also be reflected. In fact, the rate of price rise in all certainty is expected to moderate substantially with cascading effect of fuel price cut and 4% across the board excise duty reduction getting mirrored in the data in subsequent weeks. Incidentally, the inflation was at 3.89% during the corresponding period a year-ago