Hopes of an early respite from mounting price pressures have been belied by inflation numbers released on Wednesday. The wholesale price index for June 2010 is up 10.55% against a rise of 10.16% in May. Worse, the number for April has been revised up from 9.59% to a 19-month high of 11.23%. If the same order of revision continues , the June number could well cross 12%, a dangerously high...
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Will India's rising inflation lead to social unrest? by Paranjoy Guha Thakurta
Earlier this week, India's opposition parties came together in a rare show of unity to take to the streets in cities across the country. They protested against the government's recent decision to raise fuel prices after it scrapped its subsidy of petrol prices in an effort to cut the budget deficit. Supporters of the right-wing Bharatiya Janata Party joined hands with their ideological rivals among the Communists to paralyse normal life in...
More »India's food price index up 12.92 pct y/y - govt
India's food price index rose 12.92 per cent in the year to June 19, while the fuel price index climbed 12.90 percent, government data released on Thursday showed. The pace of increase in food prices slowed from the previous week's annual rise of 16.90 percent, while fuel price inflation eased from last week's annual rise of 13.18 per cent. The primary articles index was up at 14.75 per cent. Wholesale price...
More »Food, fuel inflation ease in early June
India’s food and fuel price inflation eased in early June, easing pressure on Reserve Bank of India (RBI) to speed up its process of tightening monetary policy. India’s food price index rose 16.12% in the year to 5 June, snapping a two-week rise, and lower than the previous week’s annual reading of 16.74%, government data released on Thursday showed. The fuel price index climbed 13.18%, compared with an annual rise of 14.23%...
More »Food inflation may rise further, but no cause for alarm: Montek by Sujay Mehdudia
Food inflation may increase further in the coming weeks, but there is no cause for alarm as the rise is more the result of the low-base effect, Deputy Chairman of Planning Commission Montek Singh Ahulwalia said on Wednesday. As of May 29, food inflation stood at 16.74 per cent. “It is quite possible that when the data comes out on Thursday, you may see a little increase in food inflation. That...
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