-The Economic Times Nothing can be more ironic than to have food inflation at 18% (August 2013 over last August) in a country that takes pride in enacting the National Food Security Act (NFSA) and bestowing "the right to food" to 67% of its population by promising 5 kg cereals per capita per month (pcpm) at highly subsidised rates. Given that cereals consumption is 10.7 kg pcpm, people will have to face...
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Ripple effect of rising fuel prices: Get used to high food prices, RBI can do little to counter them -Avinash Celestine
-The Economic Times Like his predecessor, RBI governor Raghuram Rajan too remains worried about inflation. And despite repeated attempts, the RBI has had mixed success in taming prices. Reserve Bank of India governor Raghuram Rajan has clearly decided to play spoilsport to the markets. By making it clear that he, like his predecessor, remains worried about inflation, he has also effectively signalled that with consumer prices at 9.5%, markets shouldn't expect those...
More »Food prices rose 157% between 2004 and 2013 -Subodh Varma
-The Times of India NEW DELHI: If you were to ask any random aam aadmi anywhere in India what is the single biggest failing of the UPA, the answer would be - price rise. This is so because the most important items of family spending - food items - have relentlessly risen for the past several years despite repeated promises to bring them down by the economic mandarins and policy wonks...
More »Inflation at 6-month high on onions
-The Times of India NEW DELHI: The rate of inflation accelerated to a six-month high in August on the back of spiralling onion prices, posing yet another challenge for RBI ahead of the monetary policy review as it struggles to tame volatility in the foreign exchange market. Data released on Monday showed the wholesale price index (WPI) rose an annual 6.1% in August, higher than previous month's 5.79%. The inflation rate...
More »Onions drive inflation to six-month high at 6% in August-Somesh Jha
-The Business Standard Central bank chief Raghuram Rajan likely to retain stance later this week, say economists Inflation in onions skyrocketed to 244.62% in August against already high 119.4% in the previous month, jacking up the the rate of wholesale price rise to a six-month high of 6.10% from 5.8% in July, official data showed today. Ironically, onion prices can't be brought down by interest rate policy, but it is all set to...
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