-Hindustan Times The fuel and energy basket sub-component has a share of 6.84% in the CPI basket. For oil and fats (edible oil) sub-category, this share is 3.56%. A simple calculation using the weighted share of these two sub-components shows that they have been a key driver of headline inflation in the past few months. India’s benchmark inflation rate, as measured by the Consumer Price Index (CPI) has been above the 6%...
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Retail inflation eases in June to 7.01%, but still above RBI’s upper limit -Zia Haq
-Hindustan Times Food price index leapt 7.75% in June on the back of a global spiral in commodity prices, slightly lower than 7.97% in May India’s retail inflation marginally eased for the second month in a row to 7.01% in June from a year ago, official data on Tuesday showed, but consumer prices, which rose 7.04% in May, continued to breach the Reserve Bank of India’s upper limit of 6% for the...
More »MSP Revision a Betrayal of Our Movement, Covers Only Inflation Impact, Say Farmer Leaders -Ravi Kaushal
-Newsclick.in If rise in input costs is compared with new MSP, then in real terms, MSP has been reduced for 11 out 14 Kharif crops, the leaders said. New Delhi: Terming it a “cruel joke” on farmers, farmer organisations on Thursday said that the increase in minimum support price (MSP) of 14 crops for Kharif season 2022-23 announced by the Centre merely covers the impact of inflated prices of inputs including seeds,...
More »Why is your tadka getting more & more expensive? Blame India’s reliance on edible oil imports -Nikhil Rampal
-ThePrint.in Indians spending 14% more on edible oil compared to last year. Experts expect a cooldown if no shocks prevail, government says ‘situation under control’. New Delhi: A bottle of cooking oil is a constant in every Indian kitchen, but its price is not. According to data sourced from the Department of Consumer Affairs, by 16 May, consumers in the country were spending an average of 14 per cent more, or an extra...
More »Inflation Spiral is Hitting the Working Poor the Hardest -Sanjay Roy
-IPA News Service/Newsclick.in Time is ripe to do away with every central cess on petroleum products and reject the government’s narrative that the poor are hurt less by higher prices than the rich. The country is in the grip of an inflationary spiral resulting in a galloping price rise of all essential goods used by people. This crushing price burden is making life exceedingly difficult for the rural and urban poor. The retail...
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