Friday, May 13 2005 12:31 Hrs (IST) - World Time -

New Delhi: After rising for four consecutive weeks, inflation fell marginally by 0.24 per cent to 5.67 per cent in the week ended April 30 mainly due to cheaper food and some of the manufactured products like edible oils.

The widely tracked point-to-point Wholesale Price Index (WPI) inflation fell from the previous week's level of 5.91 per cent and it was 4.60 per cent in the year ago period.

Reserve Bank of India (RBI) had estimated inflation to be 5-5.5 per cent during the current financial year, but was cautious in its outlook, saying it may get moderated by the conditions in the oil market, which remains tight.

The WPI rose by 0.1 per cent to 192.1 points due to surge in the index of heavy-weighted manufactured products even as fuel prices remained unchanged. The index was 181.8 points in the year ago period.

During the week in review, world oil prices closed below $ 50 a barrel for the first time in more than two months on rising US supplies and slower economic growth.

Government revised upwards inflation to 5.46 per cent during the week ended March 5 as compared to provisional estimate of 5.30 per cent.

The WPI stood corrected at 189.2 points during the first week of March against provisional level of 188.9 points.