The price rise in individual key food commodities over the last one year is significantly higher than what is conveyed by the wholesale price index. While the latest government data show inflation at 6.68 per cent for the week ended March 15, the price change in most food items is in double digits.
Spiralling prices of wheat, maize, sugar and oils apart from food items such as vegetables turning costlier, are pushing food inflation higher, according to World Bank.
Gold prices are struggling and are down 18 per cent from their March highs. But stock prices have fallen even more. As a result, the precious metal has begun to outperform equities - both in the domestic market and international markets. Gold prices are up 2.6 per cent in the domestic market in the current calendar year (CY22) so far, according to the World Gold Council (WGC), compared to a 1.7 per cent decline in the Sensex year-to-date (YTD).
Prime Minister Narendra Modi was on Tuesday poised to form the government for a third consecutive term with the Bharatiya Janata Party-led National Democratic Alliance getting a majority in the Lok Sabha, notwithstanding crushing losses in three Hindi heartland states after a bitterly fought election that was projected as a referendum on his popularity.
Students of Kolkata's Presidency College on Saturday hurled eggs and tomatoes at Planning Commission Deputy Chairman Montek Singh Ahluwalia to protest price rise while he was leaving a seminar, but missed their target.Eyewitnesses said that student demonstrators belonging to the Students Federation of India, affiliated to the Communist Party of India - Marxist, threw eggs and tomatoes and waved black flags at Ahluwalia as he was leaving a UGC-sponsored national seminar.
Latest market reports say that soaring cost of chana is forcing manufacturers of besan to add cheaper white matar in chana flour to make besan.
'Is the Agniveer scheme or their post-retirement re-employment in paramilitary forces or in the state governments the BJP's answer to the crying need on the job front?' 'Or, even Finance Minister Sitharaman's one-year internship scheme in the public and private sector, is it a permanent solution, either?', asks N Sathiya Moorthy.
The Nationalist Congress Party (NCP) on Wednesday hit back at Congress General Secretary Rahul Gandhi for holding coalition politics responsible for price rise, saying it was an injustice to blame Agriculture Minister Sharad Pawar alone for the issue.
The Bharatiya Janata Party said the first anniversary of the United Progressive Alliance-II was marked by "disappointment and betrayal of common man" and that price rise, corruption and surge in Naxal violence were the "achievements" of the government which could complete one year by "misusing" the Central Bureau of Investigation.
The 'black paper', titled '10 saal anyay kaal' also alleged that issues such as rising prices, unemployment, subversion of institutions and farmers' 'distress' had plagued the country.
Chanting anti-government slogans, thousands of BJP workers on Wednesday hit the streets of Delhi to protest against price rise with party chief Nitin Gadkari accusing the UPA of presiding over a Rs 2.8 lakh crore (Rs 2.8 trillion) 'big scandal' by allowing futures trading in commodities.
Retail inflation eased to an 11-month low of 4.83 per cent in April as prices of some kitchen items declined though overall food basket firmed up marginally, according to a government data released on Monday. The Consumer Price Index (CPI)-based retail inflation was 4.85 per cent in March. It was 4.7 per cent in April 2023.
Hitting out at the government, BJP on Wednesday scored a "double century" on price rise and questioned the "silence" of Congress President Sonia Gandhi on the "burning issue".
India's festival season is bound to leave behind a bitter taste for the common people with prices of several commodities skyrocketing.
The opposition's uproar over rising prices of essential commodities paralysed the proceedings in Parliament on Tuesday, with the Rajya Sabha adjourning for the day at noon and the Lok Sabha witnessing two adjournments.
The issue of price rise is a worry for every government -- it is a political volcano. But the United Progressive Alliance on Friday steeply hiked the fuel price. Will people react? Or do they remain silent and suffer? Abhishek Mande talks to experts to 'read' the pulse.
To corner the Manmohan Singh government in the Budget Session of Parliament, a united opposition today demanded a debate on price rise on February 23, before the Railway Budget and the Union Budget are placed in the Lok Sabha.
A committee has been formed and the price situation was being reviewed, the finance minister added.
'I have serious doubts about the longevity of the NDA government and the longevity of the 18th Lok Sabha itself.'
The Indian National Lok Dal will contest all 10 Lok Sabha seats in Haryana, senior party leader Abhay Singh Chautala said on Thursday.
The Knight Frank Global House Price Index rose by 0.9 per cent in the year to March 2012. Knight Frank is a global residential and commercial property consultancy.
Alleging that the BJP would end democracy if it was not voted out, Kharge said it was because of this democracy that a tea-seller's son could become the prime minister of India and he, the son of a labourer, could become the president of the opposition Congress.
India's net oil import bill could widen to $101-104 billion in current fiscal from $96.1 billion in 2023-24 and any escalation in the Iran-Israel conflict could impart an upward pressure on the value of imports, ICRA said on Tuesday. The domestic rating agency said based on its analysis, lower value of Russian oil imports is estimated to have led to savings of $7.9 billion in 11 months (April-February) of 2023-24, up from $5.1 billion in 2022-23.
Notwithstanding reports of a government-Bharatiya Janata Party thaw, Parliament was disrupted for the third consecutive day on Thursday over price rise and other issues with no signs of normalcy returning on Friday.
Left parties would target the Manmohan Singh government on issues of price rise and corruption during the Monsoon session, with the CPI on Thursday saying the ruling coalition has "completely failed" to fulfil promises made in Parliament.
Criticising Prime Minister Manmohan Singh's advice not to politicise the issue of price rise, Bihar Chief Minister Nitish Kumar said on Monday when high price of essential commodities hit people hard then it was the responsibility of the political parties to raise the issue and the ruling party to address it. "The people are hard hit whenever prices are increased and the ruling party has to resolve it," Kumar who was here to attend a wedding, told newsmen in Ranchi.
The BJP-led National Democratic Alliance on Thursday formed a human chain in Parliament complex to protest price rise while its leader L K Advani asked the government to quit and go for elections if it was unable to control inflation. Alleging that the government had 'failed' on the issue, Advani joined NDA members, including leaders like Rajnath Singh, George Fernandes and Manohar Joshi, in forming the chain.
Housing prices increased by up to 11 per cent annually across eight major cities during January-March period of this year due to a rise in demand for residential properties and a sharp hike in rates of construction raw materials, according to a joint report by CREDAI, Colliers and Liases Foras. Delhi-NCR witnessed highest rise in housing prices by 11 per cent to Rs 7,363 per sq ft during January-March 2022 as compared to the year-ago period, as per the first edition of Housing Price-Tracker report by realtors body CREDAI, real estate consultant Colliers and data analytics firm Liases Foras. Hyderabad witnessed 9 per cent increase in housing prices to Rs 9,232 per square feet, while Ahmedabad saw a 8 per cent appreciation to Rs 5,721 per square feet and Kolkata 6 per cent to Rs 6,245 per square feet.
'Those who feared that I would have run one hell of a campaign targeting the most powerful people in India snatched away my democratic right from me.' 'I will expose these democracy-killers.'
Bangalore saw realty prices rise 28.8 per cent every year between 2001 and 2005, according to data from National Housing Bank. The Housing Price Index of Bangalore went up nearly 175 points in the period, the highest among the Indian cities. The index has been provided by the NHB's technical advisory group on a pilot basis.
Let's take a look at 25 nations that have experienced hyperinflation.
A higher-than-expected consumer price inflation (CPI) print for March in the US has dashed hopes of an interest rate cut by the US Federal Reserve (US Fed) in June. Analysts now expect the US central bank to start cutting rates in September, provided inflation remains in check and oil prices remain supportive. The markets, analysts believe, partially factored in this possibility.
Speaking at the function, Nath asked exporters to provide inputs for a mechanism for refund of local taxes to them. "We are in the process of formulating the scheme and will incorporate valid suggestions from exporters," he said.
Common people are gasping under the pressure of price rise.
Global food prices will come under further pressure on Monday as benchmark prices for cereals at much higher levels come into operation, making it almost inevitable that a second wave of food price inflation will hit the world's leading economies.
Both Houses met for the first time in the second part of Budget Session and saw repeated adjournments as the Opposition continued protests.
Flaying the Congress-led United Progressive Alliance government at the centre, and holding it responsible for the unabated price rise, BSP leaders made it a point to stress that, "none other than Mayawati can bring down the prices in the country."
Leader of Opposition Mallikarjun Kharge, speaking on the Motion of Thanks on the President's address, charged the government with not delivering on its various promises, including generating two crore jobs per year.
Consumers may have to shell out more to buy television panels as manufacturers say they may raise prices again in April. The industry has been facing this issue of price rise post the pandemic and open cell prices have gone up by around 30 per cent in the last one year. And, television panel manufacturers expect this trend to continue.
Congress leader Rahul Gandhi had recently blamed unemployment and price rise for the Parliament breach on December 13, when two protesters jumped into the lower house chamber and opened smoke cans.
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