The classical economic theory of high inflation leading to the gross domestic product (GDP) growth will not be applicable to India even if the retail inflation has touched 7.35 per cent, since the price rise is led by highly volatile food and vegetables and is a short-term spike.
The retail inflation is on a 5-year high level of 7.4% as of December 2019 majorly driven by the inflation in the food price index, which also stood at 14.12%. A look at key statistics and what holds in future in terms of RBI's rate cut and probable inflation levels in the coming months.
People of India are more concerned about rising inflation and unemployment and not much about the Citizenship Amendment Act, IANS-CVOTER State of the Nation Poll 2020 has found.
The revised rates of telecom operators will add to the inflation rate in the country. Reserve Bank Governor Shaktikanta Das said on Thursday.
The minister referred to Chowdhury's earlier remarks against the Prime Minister and the Home Minister in which he had called them "infiltrators" on the issue of National Register of Citizen (NRC).
Employees in India are expected to see 9.2 per cent salary growth in 2020, highest in Asia, but inflation may play a spoiler as real-wage salaries in the country is anticipated to be just 5 per cent, a report said on Monday.
Prime Minister Imran Khan on Friday said that the current issue of inflation in Pakistan was due to the flawed economic policies of the previous government and the cash-strapped nation would overcome the problem soon.
Wholesale inflation slipped to about three-and-a-half-year low of 0.16 per cent in October on account of a decline in prices of manufactured goods though food products remained dearer, government data showed on Thursday.
The study, which was published by Gallup and Gilani Pakistan on Tuesday, said 53 per cent of respondents believe the country's economy, specifically increasing inflation, is the biggest problem facing the country.
India's Consumer Price Index (CPI) for September stands at 3.99 per cent as compared to 3.21 per cent in August. September's CPI Food price inflation is 5.11% vs 2.99% in August. Fuel, Light inflation is at -2.18% vs -7.1% in August. Clothing and Footwear Inflation stands at 0.96% vs 1.23% in August. August Consumer Price Index (CPI) has been revised to 3.28% vs 3.21%.
Finance Minister Nirmala Sitharaman on Saturday said inflation is under control and there is a clear sign of revival of industrial production.
According to the Central Statistics Office (CSO) data, the jump in the retail inflation based on Consumer Price Index (CPI) was mainly due to rise in prices of kitchen items like vegetables, meat and fish.
Wholesale price-based inflation slipped to 3.07 per cent in April on cheaper fuel and manufactured items, even as prices of food articles remained high, according to an official data released Tuesday.
The consumer price index (CPI)-based retail inflation was at 2.57 per cent in February this year. On yearly basis, it was 4.28 per cent in March 2018.
Inflation based on wholesale prices rose to 2.93 per cent in February over the previous month due to hardening of prices of primary articles, fuel and power, according to government data released Thursday.
Among food articles, potato prices became cheaper substantially with inflation at 48.68 per cent in December, as against 86.45 per cent in November.
The Central Statistics Office (CSO) data showed the Consumer Food Price Index (CFPI) deflated further to (-) 2.61 per cent in November from (-)0.86 per cent in October 2018.
According to the government data released Wednesday, food articles witnessed softening of prices with deflation at 1.49 per cent in October, against 0.21 per cent September.
The RBI also underlined that inflation was under control and that the $75-billion currency swap agreement with Japan announced on Monday would provide additional resources to the country.
The inflation based on consumer price index (CPI) had declined to a 10-month low of 3.69 per cent in the previous month. In September 2017, it was at 3.28 per cent.
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