Indian market research : Bharat Business » Inflation

Problem For The Citizens As Infaltion Soars

sharen — Thu, 01 Sep 2011 15:47:21 +0000

Food inflation entered the double- digit number after a gap of five months, at 10.05% for the week ended August 20, as onion, fruits, vegetables and protein-based items turned more expensive.

Food inflation, as measured by the Wholesale Price Index (WPI), was 9.80% in the previous week. The rate of price rise of food items was over 15 per cent during the same week last year.This is the first time food inflation entered the double-digit mark since the week ended March 12, when it was at the same figure of 10.05%.

As per the official data released today, prices of onion soared by 57.01% year-on-year, while that of potato by 13.31% during the week under review.
Fruits became dearer by 21.58% and vegetables overall by 15.78 on an annual basis.The prices of egg, meat and fish were up 12.62%, while milk and cereals became dearer by 9.22% and 4.64%, respectively.

However, pulses became cheaper by 4.16% and wheat by 2.52% year-on-year. Overall, primary articles recorded 12.93% inflation for the week ended August 20, up from 12.40% in the previous week. Primary articles have a share of over 20% in the WPI. However, inflation in non-food articles, which include fibres, oilseeds and minerals, stood at 17.19%, down from 17.80% in the previous week.

Till Mid-August Food Inflation Has Risen To 9.8%

sharen — Thu, 25 Aug 2011 08:53:59 +0000

Food inflation, as measured by Whole Price Index (WPI), stood at 9.03% in the previous week. The rate of price rise of food items in the corresponding week of August, 2010, was 14.56%.

As per data released by the government today, the price of onions soared by 44.42% year-on-year, while potatoes became 16.39% more expensive during the week under review. During the week ended August 13, fruits became dearer by 27.01% and eggs, meat and fish by 13.37% on an annual basis.

The price of milk was up 9.51%, while vegetables and cereals became dearer by 6.52% and 5.22%, respectively.However, pulses became cheaper by 5.56% and the price of wheat was down by 2.80% year-on-year.Overall, primary articles recorded 12.40% inflation for the week ended August 13, up from 11.64% in the previous week. Primary articles have a share of over 20% in the WPI.

Inflation in non-food articles, which include fibres, oil seeds and minerals, stood at 17.80%, compared to 16.07% in the previous week.Meanwhile, fuel and power inflation stood stable at 13.13% for the week ended August 13, the same as in the week ended August 6.

Why Inflation is of major concern for Indian Economy?

rachit — Mon, 02 May 2011 06:12:24 +0000

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Asian Stocks Fluctuate, Bonds Rise on Inflation Concern, Libya

rachit — Sun, 13 Mar 2011 08:09:55 +0000

Asian Stocks Fluctuate, Bonds Rise on Inflation Concern, Libya
Asian stocks fluctuated and inflation-linked bonds rose amid concern China and Europe may tighten monetary policy. Crude traded just below a 29-month high after Libyan warplanes bombed rebels near an oil-export hub.

Bernanke: Inflation Low, Economy Still Needs Support From Fed

rachit — Sun, 13 Feb 2011 20:10:03 +0000

Bernanke: Inflation Low, Economy Still Needs Support From Fed
(RTTNews) – Recent job gains have not been sufficient to erode slack in the labor market, the nation’s top central banker told lawmakers in Washington on Wednesday.

Thailand’s Inflation Holds at 3%, Supporting Case for Higher Interest Rate

rachit — Sat, 05 Feb 2011 12:09:13 +0000

Thailand’s Inflation Holds at 3%, Supporting Case for Higher Interest Rate
Thai inflation held at 3 percent last month after accelerating in December, supporting the central bank’s case to raise borrowing costs again.

Inflation: Serious treat to growth says PM

sharen — Fri, 04 Feb 2011 11:19:47 +0000

Prime Minister Manmohan Singh said on Friday India’s high inflation posed a “serious threat” to the country’s growth momentum, and was driven by supply-side shortages.

India’s food inflation accelerated for the second straight week on rising prices of onions, putting pressure on headline inflation and reinforcing expectations of more monetary action this year to tame inflationary expectations.

Prime Minister Manmohan Singh Friday said rising prices presented a strong case for waiving octroi and other local taxes as inflation was posing a ’serious threat’ to the growth momentum of India and disproportionately affecting the poor.

Addressing a conference of top bureaucrats from states, Manmohan Singh said that India’s economy had been on a ‘high growth trajectory’ after the country weathered the global financial crisis ‘relatively well’.

‘But inflation poses a serious threat to the growth momentum. More importantly, it affects the poor and the vulnerable disproportionately harder,’ he said.

‘Whatever be the cause,’ he stressed, ‘the fact remains that inflation is something which needs to be tackled with great urgency.’

The prime minister said that India’s ability to ’stabilise prices depends crucially on our ability to control the prices of non-traded goods and services’.

‘Much of what needs to be done in this regard lies in the domain of state governments. The functioning of the Agricultural Produce Market Committee Acts needs to be reviewed on an urgent basis. There seems to be a strong case for waiving mandi taxes, octroi and local taxes which impede the smooth movement of essential commodities.

‘The public distribution system needs to be strengthened. Storage facilities have to be augmented. Supply chains need to be strengthened and these need to be dovetailed with organised retail chains for quicker and more efficient distribution of farm products and more remunerative prices for our farmers.’

Manmohan Singh assured that the central government would continue to provide substantial support in this direction, but ‘each state has to work out a suitable plan of action suited to its requirements and its capabilities’.

He also said the lasting solution for food price inflation lay in increasing agricultural productivity and production not only of cereals but also of pulses, oilseeds, vegetables and fruits and augmenting the supply of milk and milk products, poultry, meat and fish.

‘There is a need for a paradigm shift in our institutional arrangements, for improving the availability of various commodities to meet the higher levels of domestic consumption.’

The prime minister expressed his concern a day after India’s annual food inflation shot up to 17.05 percent for the week ended Jan 22 and prices of onions, vegetables and other essential food items continued to soar.

According to official data released Thursday, food inflation for the week preceding Jan 22 was 15.57 percent.

A string of measures was announced last month after Manmohan Singh met senior ministers to discuss how to control prices.

The prime minister said that a year ago the ‘primary concern’ was the rising prices of cereals, pulses, edible oils and sugar and added that the prices of these essential commodities were being pushed up owing to the drought of 2009.

‘These tendencies were reined in successfully due to additional releases through the public distribution system, augmentation of supplies through imports and curbs on exports and a determined effort to increase production,’ he said.

He stated that the recent spurt in prices had been driven by an increase in the prices of vegetables, fruits, milk, meat, eggs and fish.

‘This poses a different kind of problem, as these commodities are not held in public stocks,’ he stressed, adding that some of the increase in the prices of relatively superior food products like milk, eggs, meat and fish was partly attributable to rising income levels.

‘This itself is a corollary of faster growth and the effectiveness of our programmes of social inclusion, which have succeeded in putting relatively more income in the hands of the poorer sections of the community.’

Oil,food price rise to impact inflation outlook in 2011:Gokarn

rachit — Tue, 01 Feb 2011 18:09:10 +0000

Oil,food price rise to impact inflation outlook in 2011:Gokarn
Mumbai, Jan 27 (PTI) Rising oil prices and firming up of global and domestic food prices are likely to have a significant impact on inflation outlook in 2011, a top RBI official said.”High global energy, global commodities and domestic food prices are likely to have a significant impact on inflation outlook in 2011,” the Reserve Bank of India Deputy Governor Subir Gokarn told reporters here …

Inflation weighs at Davos talks

rachit — Mon, 31 Jan 2011 02:09:38 +0000

Inflation weighs at Davos talks
CEOs cautiously confident as World Economic Forum kicks off. 26 Jan 2011 11:28 PM

S. Korea raises key rate, moves against inflation

rachit — Mon, 17 Jan 2011 18:10:33 +0000

S. Korea raises key rate, moves against inflation
South Korea’s central bank Thursday unexpectedly raised its key interest rate to curb inflation, joining others in Asia and beyond, while the government announced its own steps to control rising prices.