New Delhi, Sep 4 (ANI): Continuing its downward journey inflation further moderated to 12.34 per cent on Thursday for the week ending August 23 compared to 12.40 per cent recorded a week earlier.

The country's annual inflation rate, however, was expected to have inched up in the third week of August to 12.44 per cent, driven by higher prices of some commodities and demand pressures in economy, a poll showed earlier.

Last week the decline in inflation was largely on account of the drop in the global crude prices and marginal drop in prices of essentials such as fruits, vegetables, eggs, meat and fish. (ANI)