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August 31, 2007 12:57 IST
Inflation declined to below four per cent for the first time in more than 15 months to touch 3.94 per cent for the week ended August 18, much less than the Reserve Bank's projection for this fiscal.
Before this week, inflation was below this level only during the week ended April 29, 2006.
Wholesale prices-based inflation is now way below RBI's projection of around 5 per cent this fiscal and even less than its target of 4-4.5 per cent in the 'medium term'.
The latest numbers also assumed importance as it was 5.12 per cent in the corresponding period of last year. Inflation was 4.10 per cent in the previous week.
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