Declining prices of global crude oil kept the inflation rate at near zero level in December, raising the clamour for interest rate cut by RBI to boost domestic manufacturing and spur economic growth.
Wholesale price index (WPI) based inflation moved up marginally in December to 0.11 per cent from zero level in November, reversing the six month declining trend.
The slight increase in inflation rate was due to spurt in ‘food items’ basket.
–PTI