Inflation slips to over six-year-low of 2.43 per cent

Inflation fell to more than a six-year low of 2.43 per cent for the week ended February 28 against 3.03 per cent in the previous week mainly on account of a fall in prices of manufactured products and some food items, justifying the RBI's rate cuts. The wholesale price index stood at 6.21 per cent during the corresponding week a year ago. During the week, prices of steel ingots, batteries and nylon yarn declined. Prices of maize, arhar and moong declined by one per cent each. However, prices of fuel remained unchanged at the previous week's level.