Thursday April 24, 2008

India wholesale inflation jumps to 7.41%

This article belongs to the India inflation watch story arc.

channelnewsasia.com :

India's inflation accelerated to 7.41%, according to official data released Friday [11 Apr 2008], dealing a blow to the government and fanning expectations of monetary tightening. Annual inflation quickened to 7.41% for the week ended March 29, from 7% the previous week, according to the Wholesale Price Index, India's most-tracked cost-of-living monitor. The country faces the daunting task of trying to keep food and other goods affordable for its population of more than 1.1 billion people, many of whom live in grinding poverty. Analysts forecast additional fiscal moves by the government, including more import duty cuts and higher export taxes but added these could not solve what was a global problem.

- Yup, it's a global problem all right. And the usual suspects : increases in the prices of food and fuel. But these are symptoms, not causes. It's a classic case of unlimited money chasing limited goods, writ large on the world stage.

See also :

1. India inflation crosses 5% to hit a 10-month high
2. India wholesale inflation accelerates to 13-month high of 6.68%
3. Gresham's Law and the Indian coin shortage

Updated :

1. India wholesale inflation rate rises to 11%, a new 13-year high
2. India inflation rate hits 7-year high of 8.75%

(2008-04-24 13:21:47 SGT) [Biz] Permalink

Most popular blog postings on lowem.log :

1. 2010 Nissan Leaf electric car specifications : 107hp, 24KWh lithium-ion batteries, 100-mile range
2. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
3. 2010 Honda Civic Hybrid preliminary specifications released
4. Singapore SIBOR rate falls to 0.69% in Jan 2009, lowest since Apr 2004
5. How to insert currency exchange rates into Google Spreadsheets
6. Singapore : Nuclear power not ruled out
7. Live spot gold price quotes chart on COMEX
8. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option

Featured articles on lowem.log :

1. 2010 Honda Civic Hybrid preliminary specifications released
2. 2010 Honda CR-Z hybrid, 2010 Honda Fit/Jazz hybrid models confirmed
3. 2010 Toyota Prius specifications released : 50 mpg, 1.8L, 134hp, Ni-MH, solar roof option
4. Honda, GS Yuasa JV to make lithium-ion batteries for 2010/2011 Honda Civic Hybrid
5. New efficient nanotech materials may boost enhanced geothermal power systems
6. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
7. Singapore property market recovery seen as private home sales surge 52% in Jul 2009
8. Singapore SIBOR rate falls to 0.69% in Jan 2009, lowest since Apr 2004