After falling substantially in the previous week, inflation rose marginally by 0.06 per cent to 7.87 per cent for the week ended September 11 mainly due to costlier manufactured products including some edible oils.
Higher prices for essential commodities following the truckers' strike pushed up inflation by 0.16 per cent to a four-year high of 8.33 per cent for the week ended August 28.
Inflation moved up to 7.23 per cent in April on account of spurt in prices of vegetables, meat, milk and pulses, although onion and fruits showed a declining trend.
Inflation, as measured by the Wholesale Price Index, was 7.55 per cent in May. In June last year, it was 9.51 per cent.
Inflation at 6 per cent was a matter of concern in the evolving macro-economic outlook and the Reserve Bank of India fears that consumer prices could be even higher at 7 to 8 per cent.
Inflation shot up by 0.1 per cent to over 41-month high of 7.61 per cent week ended July 31, mainly due to surge in prices of fruit and vegetables, edible oil and other manufactured products.
Wholesale price inflation stood at 4.78 per cent in November. The consumer price index for agricultural labourer and rural labourers were 13.73 per cent and 13.51 per cent in October.
Inflation has reappeared as a global issue in both advanced and emerging economies and India needs to be wary of "imported inflation", especially due to high oil prices, according to the Economic Survey 2021-22 released on Monday. "Inflation has reappeared as a global issue in both advanced and emerging economies. "India's Consumer Price Index inflation stood at 5.6 per cent YoY in December 2021 which is within the targeted tolerance band," the survey report presented in the Parliament by Finance Minister Nirmala Sitharaman noted.
Retail inflation rose marginally to 9.84 per cent in September, mainly due to a hike in food prices, particularly of vegetables.
The wholesale price-based inflation rose to an eight-month high of 1.48 per cent in October, as manufactured products turned costlier. The WPI inflation was 1.32 per cent in September and zero per cent in October last year. This is the highest level of wholesale price index-based (WPI) inflation since February when it was 2.26 per cent.
Overall food inflation rose to 10.74 per cent in May, from 10.49 per cent in the previous month. Food articles have 14.3 per cent share in the WPI basket.
This could be the reason why Prime Minister Narendra Modi mentioned tomato, onion, and potato as his government's 'TOP' priority, in an election rally on February 5 in poll-bound Karnataka.
Costlier fuel products and manufactured items including edible oils pushed up inflation to 4.95 per cent during the week ended February 26.
The wholesale price index's annual rise compared with a 7 per cent jump forecast by economists in a Reuters poll.
Inflation shot up to a four-year high at 8.17 per cent for the week ended August 21 despite a number of steps, including duty cuts on petroleum products and steel, taken by the government to rein in prices.
Use a mix of instruments that will beat both the wholesale and consumer price indices
India's annual rate of inflation, based on its monthly Wholesale Price Index, climbed to 6.01 per cent for the month of May 2014, as against 5.20 per cent for May and 4.58 per cent during the corresponding month of the previous year, which has set off alarm bells.
Households continued to bear the brunt of increased cost of living with inflation rising by 0.35 per cent to 7.96 per cent for week ended August 7, mainly due to costlier vegetables, petrol, diesel and aviation turbine fuel.
'We will be very, very proactive in providing whatever liquidity requirements are needed.'
Wholesale price-based inflation rose to a record high of 15.88 per cent in May on rising prices of food items and crude oil. The Wholesale Price Index-based inflation was 15.08 per cent in April and 13.11 per cent in May last year. "The high rate of inflation in May, 2022 is primarily due to rise in prices of mineral oils, crude petroleum & natural gas, food articles, basic metals, non-food articles, chemicals & chemical products and food products etc. as compared to the corresponding month of the previous year," the commerce and industry ministry said in a statement.
'The nominal GDP growth assumption for FY25 may be revised upwards on higher growth expectations.'
The WPI number follows retail inflation (CPI) data, which had slipped to a record low of 3.78 per cent in July.
Mahindra & Mahindra was the top laggard in the Sensex pack, sliding 2.05 per cent, followed by Bajaj Finance, Tata Steel, SBI, Asian Paints, Kotak Mahindra Bank and Titan. However, IT majors HCL Technologies and TCS defied the trend and gained 1.02 per cent and 0.47 per cent, respectively. FMCG firm Hindustan Unilever rose 0.32 per cent.
Inflation in food articles during June stood at 2.04 per cent, as against 1.13 per cent in May.
A little away from the city in the northern suburbs, vegetables are 15-30 per cent costlier.
The wholesale price-based inflation shot up to an all-time high of 10.49 per cent in April, on rising prices of crude oil and manufactured items. Also, a low base of April last year contributed to the spike in inflation in April 2021. The WPI inflation was 7.39 per cent in March 2021, and (-) 1.57 per cent in April 2020. This is the fourth straight month of uptick seen in the wholesale price index (WPI)-based inflation.
The Interim Budget for 2024-25 (FY25) to be presented on February 1 is likely to assume 10-10.5 per cent nominal gross domestic product (GDP) growth against 8.9 per cent estimated for FY24 by the National Statistical Office (NSO). "We were waiting for the First Advance Estimates GDP numbers for FY24. "We will finalise the nominal GDP growth assumption for FY25 Interim Budget in a couple of days.
The finance ministry has proposed that services should be included in the widely tracked wholesale price-based inflation index to reflect true picture of price changes in the economy.
The wholesale price index, the main inflation indicator, rose an annual 6.84 per cent in February, higher than the 6.54 per cent rise estimated by analysts.
RBI might retain rates at current levels, upside risks to inflation rise.
Inflation moderates, but government can and must do more.
Since March 2020, WPI food inflation rate continued to fall but the CPI-food inflation rose, signaling a breakdown in supply chain from the mandis to the final household.
WPI at 3-month high; surge in all broad categories; CPI at 2-month high.
Wholesale inflation shot up to a 30-month high of 5.25 per cent in January as rising global crude oil prices spiked domestic fuel cost, even as food prices moderated.
Potato, a daily consumable vegetable, witnessed maximum inflationary pressure at 60.58 per cent
Inflation fails marginally to 4.52 per cent for the week ended July 15 from the 4.68 per cent in the previous week, despite increase in prices of vegetables, some edible oils and metals.
This increases expectations that RBI may cut rates later this month.
Inflation rose to 4.77 per cent for the week ended September 23 from 4.56 per cent in the previous week, mainly due to spurt in prices of pulses, wheat and iron ore.
Growth rate in per capita income is projected to fall to the lowest in 21 years this financial year - except for the financial years 2019-20 (FY20) and 2020-21 (FY21) - according to the first advance estimates. During the last 21 years, the two periods - FY20 and FY21 - saw growth rates in per capita income lower than 7.9 per cent, seen during FY24. This was despite the real gross domestic product (GDP) being projected to grow by 7.3 per cent in the current financial year by the first advance estimates.
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