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March 19, 2009
India inflation dips to near zero
NEW DELHI - INFLATION in India has dropped to close to zero, official data showed on Thursday, as Asia's third-largest economy maintained a sharp slide towards deflationary territory.

Inflation fell to 0.44 per cent for the week ended March 7 from 2.43 per cent in the previous week, according to the Wholesale Price Index, the most watched cost-of-living measure.

India's inflation rate has fallen from a 13-year high of 12.91 per cent last August due to a slump in oil and other global commodity prices as well as the effects of the worldwide slowdown. -- AFP

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