Inflation rate, based on wholesale price index (WPI) and calculated on a point-to-point basis, had risen to 1.62 per cent last week.

Lower rate of inflation witnessed during the current year is mainly due to the comparison with a higher base last year when prices of food articles, especially vegetables had shown a record surge.

The annual rate of inflation rate was higher at 8.07 per cent during the corresponding period last year due to skyrocketing of food prices. Despite perceptible rise in vegetable prices this year, the index is rising at a much lower rate compared to last year.