Wholesale prices based inflation rose by 0.10 per cent to stand at 4.92 per cent during the week ended August 12, as against 4.82 per cent in the previous week due to rise in prices of essential items like fruits and vegetables.\n\n
Data from the Nashik-based National Horticultural Research and Development Foundation showed that onion was trading at at Rs 24 a kg on Tuesday in the benchmark Lasalgaon mandi in Nashik district of Maharashtra. That's a fall of four per cent since Monday and 40 per cent from Rs 40 a kg on January 20, a level not seen since November 6, 2019. It continues to sell at Rs 40-44 a kg in retail markets across the country.
The inflation rate fell marginally to 4.88 per cent during the week ended November 8 despite a rise in prices of essential items like wheat, tea, maize, textiles, paper, metal and machines.
Inflation rate breached the 5.0 per cent mark during the week ended November 1, after a short span of 14 days, as food articles, fuel, and manufactured products became costly.
If the difference between provisional and final wholesale price index (WPI) numbers is taken as a leading indicator, the headline inflation rate, which is hovering around zero, is unlikely to change direction.
Inflation shot up to 5.24 per cent for the week ended June 10 from previous week's 4.72 per cent mainly due to spurt in the prices of fuel, food and manufactured items.
The current fiscal began with inflation rising to 5.26 per cent during the week due to costlier food, fuel and manufactured products.
Higher prices of pulses, fruits vegetables and some manufactured products pushed the wholesale price-based inflation up by 0.36 per cent to 4.32 per cent for the week ended May 13, against 3.96 per cent in the previous week.
Farmers remained hesitant in sowing vegetable seeds in drought-hit areas.
For now, the upside appears to offset damage done to exports by weaker global demand.
Inflation rose to 4.62 per cent for the week ended December 17, from 4.5 per cent in the previous week mainly due to costlier fuel and non-food items.
Inflation fell for the second consecutive week to 3.24 per cent for the week ended April 8 from 3.51 per cent in the previous week mainly due to cheaper food items including vegetables and wheat.
The inflation fell marginally to 4.40 per cent for the week ended April 3 despite a whopping 20 per cent rise in vegetable prices and a substantial hike in the prices of fruits, milk and fuels for industries.
Factory output in June likely rose 5.4 per cent from a year earlier, faster than the 4.7 per cent growth in May, according to a poll of 27 economists.
Don't be surprised if growth in the second half of the financial year drops below 4%, which is where it was in the year before the pandemic, warns T N Ninan.
ITC was the top loser in the Sensex pack, shedding 1.97 per cent, followed by Tata Steel 1.80 per cent, HUL 1.57 per cent, Vedanta 1.44 per cent, Bharti Airtel 1.37 per cent and M&M 1.35 per cent.
Deficient rains in west, flooding in north play havoc with crop cycles.
A rise in prices of diesel and petrol pushed up inflation to a 29-week high of 5.63 per cent for the week ended December 20 even as vegetables, edible oils and textiles became cheaper.
The overall inflation went up marginally to 5.25 per cent for the week ended November 29 despite a sharp 9 per cent fall in vegetable prices.
Reliance Industries Ltd will acquire German firm Metro AG's wholesale operations in India for Rs 2,850 crore as the conglomerate run by billionaire Mukesh Ambani seeks to strengthen its dominant position in India's mammoth retail sector. "Reliance Retail Ventures Limited (RRVL), a subsidiary of Reliance Industries Ltd, signed definitive agreements to acquire a 100 per cent equity stake in Metro Cash & Carry India for a total cash consideration of Rs 2,850 crore, subject to closing adjustments," said a joint statement. Through this acquisition, Reliance Retail will get access to a network of Metro India stores located in prime locations across key cities, along with a large base of registered kiranas and other institutional customers, and a strong supplier network.
Reserve Bank of India on Friday raised short-term lending and borrowing rates.
Food prices are also expected to move up due to the poor monsoons.
The Central bank primarily factors Consumer Price Index while deciding on policy rate.
The commodity prices eased further with inflation falling marginally by 0.06 per cent to 5.61 per cent during the week ended May 07
To be out by October, it reflects weight of components in GDP.
RBI's projection of retail inflation at 6.8 per cent in the current fiscal is neither too high to deter private consumption, nor so low as to weaken inducement to invest, the Economic Survey said on Tuesday. However, entrenched inflation may prolong the tightening cycle and therefore, borrowing costs may stay 'higher for longer', it said. The Economic Survey 2022-23 was tabled in Parliament by Finance Minister Nirmala Sitharaman.
Inflation rose marginally to 3.75 per cent during week ended September 17 from 3.53 per cent a week ago, mainly due to increase in the prices of minerals, manufactured products and non-food essential items.
Young investors could allocate in the proportion of 70:20:10 to equity, debt and gold.
Chief economic advisor Kaushik Basu on Thursday said that inflation may come down to 6 to 7 per cent in the next three months and that there was no need for any capital controls to check inflows as have been at a comfortable level.
While existing investments pipelines are on course, newer projects, which are at conceptual stage, may be affected; companies are concerned that high inflation (the wholesale price index is above 12.6 per cent, a 16-year high) and high interest rates would dampen consumer demand growth, Confederation of Indian Industry President K V Kamath said after a meeting of industry leaders with Finance Minister P Chidambaram.
Reflecting the "measured" steps taken by the Centre and the Reserve Bank to check prices, fiscal 2004-05 ended with inflation at 5.05 per cent for the week ended March 26 despite costlier food articles, including vegetables.
Inflation stood unchanged for the second consecutive week at 4.4 per cent for the week ended April 17 despite vegetables and tea prices skyrocketing and a marginal hike in some of the manufactured products, including cement.
While okra was being sold for Rs 100-120 a kg and cauliflower for Rs 120-140 a kg in Mumbai and its suburbs, all other vegetable prices have increased by almost 100 per cent since July 20.
During the week, prices of fruits, vegetables and poultry chicken declined by five per cent each, while those of moong and fish-marine fell by one per cent.
Price of onions, tomatoes up fivefold; cabbage triples in past year; experts say storage and processing facilities need investment.
Inflation declined for the fourth consecutive week ended May 21 to 5.38 percent mainly due to cheaper primary articles, including food and fuel products, even as fears that it could spurt looms large over an imminent price hike in fuels.
The move aimed at blunting Finance Ministry, RBI's opposition to monthly reporting.
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