Saturday, June 21, 2008

India's inflation

As we all are aware that the infletion rates are changing rapidly. this is affecting all over the world. In this case how the India's inflation accelerated to a 13-year high after record crude oil costs forced the government to raise retail fuel prices for the second time in four months.

* Wholesale prices jumped 11.05% in the week to June 7, after gaining 8.75 percent in the previous week.

> Economists surveyed & analyzed and predicted a 9.79% increase.

Last 8.75%.Prime Minister Manmohan Singh increased retail prices of gasoline and diesel this month, joining China , Indonesia , Malaysia and Sri Lanka , as a near doubling of crude oil prices pushed up costs and threatened to erode profits of companies such as Indian Oil Corp. That may make the government less popular before elections due by May 2009 and force the central bank to further raise interest rates.
All Commodities 11.05%
Primary Articles 10.78%
Fuel, Power, Light 16.25%
Manufactured Products 9.09%

This is unexpected problem for the India where the Finance department and Top body is run by the expert of the Economist.

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