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Inflation for week ending July 5th stands at 11.91 percent compared to 11.89%.Foods & vegetables were down 1%, tea was up 2%. Food articles were down 0.2%.From this week the date has been changed from now on the inflation data will be released on Thursday 5 pm in the evening .
Inflation figures came out yesterday which together with the industrial growth rate dragged the market down by more than 450 points ,Inflation touched 11.89 per cent for the ending June 28, up from 11.63 per cent for the previous week. High prices of fruits and vegetables, pulses and edible oils might have increased the inflation for this week.
Inflation data which was one of the important factor that was driving the market for almost 2 to 3 months dint matter much for the market today may its because it was not a huge increase compared to previous week, India’s wholesale price index rose 11.63 percent in the 12 months to 21 June 2008, above the previous week’s of 11.42 percent.
Inflation figure came out for the week ending june 14th over friday think they where expecting round 13 but it did raise to 11.42% Vs 11.05%; Primary articles up 0.2%; fuel, power, energy up 0.1%; minerals up 3.6%
RBI came out with the news that its going to raise the repo rate by 50 basis point and also the CRR by 50 basis points yesterday after the market hours , this is one of the many key factors that will help in controlling the inflation and other economic data that is worrying the indian economy.This CRR hike will take effect in two stages. First, a 25 basis point hike on 5 July 2008, and another 25 basis point hike on 19 July 2008. By 19 July 2008, CRR will stand at 8.75%. This would almost suck 16000 crores from the banking system if the full 50 basis point is implemented .
So Repo Rate stands at 8.5 percent
CRR Rate stands at 8.75 percent
Inflation was the data that market was waiting for today anything below 10 would have cheered up the market as it was expected around 10 , but the percent that thwy have released for week ending 7 June 2008 was 11.05 percent. The reading was the highest in 13 years since 6 May 1995, when it was 11.11%.I was expecting the inflation would be almost the same because the petrol price hike was done on june 5th thought the inflation data would be day ening june 5th but it was 2 days after the petrol price hike which would have increased all the food material price .
India’s wholesale price index rose 8.75 per cent in the 12 months to May 31, above the previous week’s annual rise of 8.24 per cent, government data showed on Friday.this is all before the raise of oil prices , you can see it reach 9.00 and 9.50 soon.
Inflation data came out on friday which stood at 8.24% Vs 8.10% for week ended May 24. This is all before even the Oil price raise kicks in to the food prices , already im hearing that the vegetable prices have started raising so in 2 weeks time we can see the Inflation reaching 9 percent or so , again our finance minister Mr P. Chidambaram is saying that he is doing all things to have the inflation down , But not sure what is is doing to get it down , we will see how things are going from here .
Inflation for week ended May 17 stood at 8.1% Vs 7.82% , they where expecting at 7.91 percent , everyone knows that there is a price hike in petrol and diesel price today , not sure how much its going to moot the inflation for coming weeks.
Inflation for week ending May 10 stays at 7.82 percent vs 7.83 percent just less by .01 percent , For the week ending march 15th the inflation as been revised to 8.02 vs 6.68 percent.
Rupee has come off the highs and is trading at 42.73/$. It touched the high of 42.79/$. Rupee has slipped 1.98% in the last 5 days from 12 May 2008.This is way too high it was like trading at 40 or so a month back , so the IT industry doesn’t have anything to worry about they can sjow a increase in profit this time also .
Inflation for week ended May 3 at 7.83% Vs 7.61%.Inflation for week ended March 8 revised to 7.78% Vs 5.92% (Prov).Food Articles index is up 0.5% while Fuel, Power index up 0.8%. Manufactured Products index is up 0.3%.When Mr P.Chidambaram was asked on this he was saying government is doing all the best to get the prices down , he was saying he says some reduction in steel and cement prices , i don’t understand how many of the normal Indian is going and buying the steel and cement and reduction of that may have some impact on the inflation but he need to take care of the food prices that is increasing.
Inflation remains at 42-month high. Inflation for week ended April 26 stood at 7.61% Vs 7.57%. For March 1, inflation is revised to 6.21% Vs 5.11% (Prov).WPI for all commodities stood at 227.7, up 0.1%. April 26 WPI is up on rise in food prices. Tea prices for week ended April 26 is up 11%.Mr P Chidambaram is still saying that Inflation is at stable level ,I Dont understand not sure what measure they have taken to control the raise of commodity prices.
For week ended April 19, the inflation stood at 7.57% Vs 7.33%,We expected it might be little bit less at 7.25 percent or so.WPI has gone up on rise in primary articles and manufacturing goods.
The WPI rose 7.33 percent in the year through 12 April 2008, which went up from the previous week’s annual rise of 7.14 percent, government data showed on Friday, 25 April 2008. The annual inflation rate was 6.34% during the corresponding week of the previous year