The rate of inflation for the week stood\nat minus 1.14 per cent as against minus 1.61 per cent for the week ended June 6,\nofficial data released in New Delhi on Thursday.
This is the second week in a row when inflation remained in negative territory. The wholesale price index stood at 11.80 per cent during the corresponding week a year ago.
After six weeks of decline, inflation rose marginally by 0.11 per cent to 4.33% during the week ended June 11.
National Sample Survey Organisation, a division within the ministry of statistics, has been roped in to collect price data for the new series and a dry run is on the anvil in the next couple of months. The new series will have 2004-05 as the base year, as against 1993-94 in the present mode and will reflect a consumption basket that is relevant in today's scenario, thereby making inflation data more reliable. The new series will have 2004-05 as the base year.
The worst of recession could coincide with the run-up to the elections.
Inflation based on the wholesale price index rose marginally to 4.2 per cent for the week ended November 12, from 4.14 per cent in the previous week mainly due to the rise in prices of minerals and non-food essential items.
Although inflation had touched 6.12 per cent during the week ending January 6 this fiscal, but it came down to 5.95 per cent in the following week.
Food inflation, measured by the Wholesale Price Index, was 7.33 per cent in the previous week.
'If you see the composition of items which are causing this spike in prices, most of them have little to do with the kharif harvest, except for pulses and vegetables to some extent.' 'I don't know on what basis the government is claiming that food prices will moderate in the weeks to come.'
Food inflation, as measured by the Wholesale Price Index, stood at 9.01 per cent in the previous week, while it was over 21 per cent in the first week of June last year.
'India's economy is growing faster compared to the developed economies of the world.' 'More importantly, it is growing faster compared to most of the developing economies.' 'The monsoon is not the only thing that drives the rural economy and certainly not the national economy.' 'It is too simplistic to reduce everything to the monsoon.'
It would not be surprising if India, the world's largest producer of milk, has to resort to imports to meet the elevated summer demand, states Surinder Sud.
The latest numbers likely to be seen by the government as a silver lining after the slowdown in economic growth during the first quarter.
Inflation shed another 0.12 per cent to tick eight months' low of 5.25 per cent for the week ended January 29, despite costlier fruits and vegetables.
India's wholesale price index, the inflation measure most widely followed by policy-makers and investors, does not need another revision after the release of the final number eight weeks after the provisional numbers, as more than three-fourths data are collected by then, Pronab Sen, chief statistician, Ministry of Statistics has said.
BSE Capital Goods and FMCG indices surged between 1-2%
Inflation fell to 33-week low of 5.42 per cent for the week ended January 15 mainly due to lower prices of essential items like vegetables, fruits, tea, edible oil and naphtha.
RBI's unique focus on WPI inflation is misguided even as demand-driven factors have become relatively less important.
Notwithstanding the fact that the country's pharmaceutical (pharma) pricing regulator has allowed a 12 per cent price increase for medicines listed under the National List of Essential Medicines (NLEM) in 2023, analysts and industry insiders predict that the overall domestic pharma industry will only witness a price hike of 5-6 per cent. This is attributed to higher competitive intensity in the market. Krishnakumar V, executive director and chief operating officer (CEO) of Eris Lifesciences, a domestic-focused pharma company, noted that the NLEM segment experienced growth suppression of around 150 basis points due to price reductions during the January to July period this year.
In its 'Asia Economic Alert', the banking and asset management behemoth also said that the Reserve Bank is likely to hike the short-term lending (repo) rate by 100 basis points in 2011 with the purpose of curbing inflationary pressure.
A sharp 12 per cent fall in the prices of vegetables pulled down inflation only marginally to 7.3 per cent for the week ended November 27
Inflation based on the wholesale price index zoomed to 6.12 per cent for the week ended January 6
The wholesale price index based inflation rose to 12.44 per cent for the week ended August 2. Wheat has a weight of 1.38 per cent in the index. The department of economic affairs and the department of food and public distribution are in favour of selling 4 million tonnes wheat.
Inflation fell by 0.18 per cent to 7.2 per cent for the week ended October 2, even as vegetable prices shot up by about 14 per cent.
Contrary to expectations that it might fall after a cut in petrol prices, inflation remained unchanged at 7.34 per cent during the week ended November 20
The Reserve Bank of India has painted a gloomy picture for the economy. A survey conducted by the central bank said India's gross domestic product (GDP) would grow 7.9 per cent this year against the earlier projection of 8.1 per cent.
After 16 weeks of over 5 per cent, inflation fell to 4.91 per cent mark for the week ended March 6 due to the sharp fall in prices of vegetables, wheat, fuel products and manufactured items including food products.
Price of potato, a daily consumable vegetable, rose 58.78 per cent during the month
The overall market breadth in BSE remained positive with 1,545 stocks advancing and 1,221 stocks declining.
If you have indeed chosen your company wisely and have not paid too high a price to buy a part of it, you can indeed expect compounding to work in your favour and a great overall return over the long term. Inflation or no inflation, that would surely be a good position to be in!
There is no end in sight to the Centre's inflation woes. The wholesale price index-based inflation is expected to rise to 11.42 per cent for the week ended June 14, data for which will be released on Friday.
Inflation rose for the ninth consecutive week to touch 39-week high of 6.21 per cent for the week ended January 10 with primary articles, including food products, and manufactured products becoming costlier.
Professional forecasters have added to Reserve Bank of India Governor Duvvurri Subbarao's dilemma on timing the exit from an accommodative monetary policy stance.
Essential items are 65 per cent costlier than last year; traders blame it on higher MSP, confusion in govt.
The overall market breadth remained firm as 1,618 stocks are advancing while 1,270 are declining.
The latest numbers are the lowest since December 2009 when headline inflation was at 7.15 per cent.
Inflation has zoomed to a three-year high of 7.41 per cent for the week ended March 29, against 7 per cent in the previous week.The wholesale price-based inflation, which stood at 7 per cent in the previous week, surged this time mainly on account of rising prices of fruits and vegetables, pulses, cereals, condiment and spices and some manufactured items.
Inflation rose to over nine-month high at 5.11 per cent for the week ended March 1, due to rise in prices of some manufactured items and aviation turbine fuel, dashing all hopes of interest rate cuts by the RBI to boost the sagging industrial production.The Wholesale Price Index-based Inflation rate stood at 5.02 per cent in the previous week and 6.51 per cent in the correspondingly week a year earlier.
The latest numbers are the lowest since December 2009 when headline inflation was at 7.15 per cent.
