NEW DELHI, May 11: The annual rate of inflation continued its slide for the seventh week in a stretch to touch 6.35 per cent for the week ending April 26.

Inflation based on provisional wholesale price index (WPI) fell by 0.19 percentage points to 6.35 per cent from 6.54 per cent despite a 0.3 per cent increase in WPI for ``all commodities'' (base 1981-82=100) to 323.4 for the week under review from 322.5 for the previous week.

Compared to this, inflation was around 4.97 per cent during the corresponding week in April last year. Inflation has been steadily moving downwards ever since it touched a 63-week high of eight per cent in the second week of February mainly due to easing of prices of food articles. In the last seven weeks alone, inflation has come down by 1.43 percentage points falling from 7.78 per cent on March 8 to the current 6.35 per cent.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.