THE boom in demand for apparel and mobile phones may soon be over as Indians plan to spend less on fun and entertainment to deal with rising food prices, a Nielsen study says. Indian consumers are extremely cautious about rising food prices and a sizeable section may defer purchases by 6-12 months, says the latest Nielsen global consumer confidence index released on Monday. Some companies, including LG Electronics and Future Group, agreed...

Prime Minister Manmohan Singh on Friday asked States to consider waiving mandi taxes, octroi and local taxes for taming inflation, which affected the poor “harder” and posed a serious threat to the country's growth momentum. He said much of the responsibility for checking price rise lay with the States. “Much of what needs to be done... lies in the domain of State governments... There seems to be a strong case for waiving...

India's food prices are likely to ease, bringing down food inflation from stubbornly high levels, over the next two months as supplies of onions and other vegetables are expected to pick up, industry officials said Thursday. The country's food inflation rate surged to more than 18% in December as vegetable prices, particularly those of onions, spiked after unseasonal rain damaged crops. India's food inflation rate has slightly eased since then, but...

Food inflation soared to 17.05 per cent for the week ended January 22, rising for the second straight week, on the back of costlier vegetables, fruits and milk. Food inflation rose by 1.48 percentage points from 15.57 per cent in the previous week. The food inflation last year had stood at 20.56 per cent. On an annual basis, onion prices rose by 130.41 per cent in the third week of January,...

Between the Reserve Bank of India, the Union finance ministry and the army of economic advisors that surround Prime Minister Manmohan Singh no one seems to have a clue about how to get a grip over food inflation. Not only has the recent episode of high food prices seen surprisingly sharp spikes in the prices of vegetables and fruit but it has lasted longer than any other episode of inflation...