New Delhi, May 14: Inflation fell for the second consecutive week dropping by 0.06 per cent to 4.2 per cent for the week ended May 1 mainly due to cheaper vegetables, fruits, milk, maida and atta. The point-to-point Wholesale Price Index (WPI) inflation fell from the previous week's level of 4.26 per cent despite the soaring prices of sugar, tea, eggs, imported edible oils and fuel items used in the manufacturing sector.

The general price level was as high as 6.89 per cent in the previous year period.

The WPI, however, stood unchanged at the previous week's level of 181.1 points, mainly due to unchanged manufactured products' group index, even as the primary articles' prices eased. The index was 173.8 points in the year-ago period.

Notwithstanding the steep increase in the global crude oil prices which peaked 40 dollars a barrel, fuel prices remained subdued during the latest reported week since oil companies were hesitant in hiking prices fearing political ramifications.
Government had revised downwards inflation to 4.79 per cent for the week ended march six against the provisional level of 4.91 per cent. The final WPI stood corrected at 179.4 points during the first week of March compared to the provisional figure of 179.6 points. Bureau Report