INFLA N AEGON

Inflation slips to 7-year low at 2.43 pctInflation fell for the sixth consecutive week, to 2.43 per cent, the lowest in over six years, as prices of food items like pulses, dairy products and edible oil softened further in the last week of February. Even the prices of manufactured items, including iron and steel, textiles, chemicals and batteries, declined during the week ended February 28.


Wholesale prices-based inflation is now at a level seen in June 2002, by falling 0.6 percentage points from 3.03 per cent a week ago. It was 6.21 per cent during the corresponding week a year ago. Terming the decline below 3 per cent on expected lines, economists expect inflation to reach zero in the next couple of months. "This is on expected lines. It was during last February and March that inflation spiked.



The prices of commodities, primarily oil and foodgrains, have moderated," said Chief Statistician of India Pronab Sen. According to ICRIER Director Rajiv Kumar, "It is no surprise. In fact, we should now begin to start worrying about deflation. We could see zero inflation in 2-3 months." During the week, the prices of maize, arhar and moong declined by one per cent each. Dairy products fell by about 2 per cent while edible oil also fell by about one per cent.


Inflation slips to 7-year low at 2.43 pct Aegon 2008 net loss 1.1 bln euros, as expectedAMSTERDAM (Reuters) - Dutch insurer Aegon reported a 2008 net loss of 1.1 billion euros ($1.4 billion) on Thursday after being hit by writedowns, and said it expected to continue to free up capital and cut risks. Results from the group, owner of U.S. Transamerica,



were in line with expectations after it last month posted a preliminary fourth-quarter loss of about 1.2 billion euros, having previously reported a nine-month profit of 100 million euros. Aegon, which gets about three-quarters of pretax operating profit from U.S. operations, made a 2007 profit of 2.6 billion euros. he group said it took 1 billion euros in writedowns in the fourth quarter. It said it had released 1 billion euros of capital in the quarter and expected to release a further 1.5 billion euros in 2009
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