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

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