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Indian Inflation Dangerously under control, touched 0.44%
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by Amitjha | March 19, 2009 at 12:52 am
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Indian goverments fight against the Inflation started paying dividend just before the election season.It is strange and doubtful that how inflation is under such control after being on deacdal high, jusy before the election.It is concern for the voters or the concern for the vote, is very difficult to answer
The wholesale price index, measure of inflation,comes under regular attack from the economist lobby for its age old calculation methodology.Hope this dangerously low figure which suggest that the demand cycle is heading for negative,will start showing some balancing act in coming times.
Inflation drastically fell to a two-decade low of 0.44% in the first week of March as food and fuel items turned cheaper, prompting
analysts to say that rate of price rise would soon turn negative.
Wholesale price-based inflation declined by 1.99 percentage points from 2.43% during the week ended February 28, fuelling expectations that RBI would cut interest rates to spur the economic growth.
Drastic fall in inflation is also attributed to high base effect as it stood at 7.78% during the corresponding week last year.
Among food products, gram turned cheaper by 5%, tea and fruits and vegetables by 3% each.
However, prices of moong and sea fish moved up by 2% each.
In fuel, power light and lubricants category, prices of jet fuel and electricity for agriculture fell by 8% each, light diesel oil by 7%.
However, naphtha and furnace oil and electricity for domestic consumption turned expensive.
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Most RecentMost Recommended Comments (1)
at 07:38 on March 19th, 2009
this is crap and false propoganda before elections.The journalist community should investigate this matter intensively and find out hoe the govt came to such false conclusion.I think the congress politicians send their servants to buy food from the store therefore they ae not awre of prices.Lie....Lie....Lie......Till when?????????? Nation better starts questioning them.If they had such a wand why only at approach of election not earlier.
I really have strong views on it inspite of being sympathetic toward the party.