Quartz India Easing global commodity prices have begun to reflect on inflation in India, at both the wholesale and consumer levels. Wholesale price rise in April fell into negative territory for the first time since July 2020, to -0.92%, government data showed yesterday (May 15). It stood at 15.38% in the same month last year. The decline in inflation in goods sold in bulk was primarily driven by a fall in the...
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Poverty and inequality
KEY TRENDS • Oxfam India's 2023 India Supplement report on poverty and inequality in India reveals that the gap between the rich and the poor is widening. Following the pandemic in 2019, the bottom 50 per cent of the population have continued to see their wealth chipped away. By 2020, their income share was estimated to have fallen to only 13 per cent of the national income and have less than 3...
More »Real Wages Declined for Rural Indians in 2022, a Year When the Economy Somewhat Recovered
The year 2022 was supposed to mark the recovery of the Indian economy from the Covid-19 pandemic and lockdowns of the preceding two years. However, the Russian invasion of Ukraine in February pushed up prices of food, fuel and fertilizer worldwide. In India consumer price inflation, which had declined to under 5 percent in the September-November period of 2021, has steadily increased, staying above 6 percent throughout 2022. What happened to rural incomes in 2022? An...
More »What is in store for India’s imports?
There is some respite expected for India in terms of prices of imported commodities. This may ease the depletion of its foreign exchange reserves. The country has faced a widening of its merchandise trade deficit from US$ -17.91 billion to US$ -26.91 billion between October 2021 and October 2022. The commodity price data provided by the World Bank in December 2022 (termed as The Pink Sheet) shows that energy prices plummeted by...
More »Price pinch: Editorial on the impact of inflation
-The Telegraph The Reserve Bank of India’s usual strategy of raising interest rates to hold inflation at bay kicked in a bit late and has not been working well so far In India, price inflation has been creeping up in the recent past. The latest data for June 2022 show consumer price index inflation to be 7.01% and wholesale price index inflation to be 15.18%. Food prices, which are an important component...
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