Inflation for week-ended June 13 at -1.14% vs -1.16%
Published on Thu, Jun 25, 2009 at 15:16 | Source : CNBC-TV18
Updated at Thu, Jun 25, 2009 at 17:07
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Inflation for week-ended June 13 at -1.14% vs -1.16%
Inflation for week-ended June 13 came in at -1.14% as against -1.16% week-on-week (WoW). The Wholesale Price Index (WPI) for all commodities was up 0.6% at 234.2 WoW. Primary articles, manufactured products and fuel group went up, at 0.1%, 1% and 0.4% WoW, respectively.
Inflation for week-ended June 13 came in at -1.14% as against -1.16% week-on-week (WoW). The Wholesale Price Index (WPI) for all commodities was up 0.6% at 234.2 WoW. Primary articles, manufactured products, and fuel group went up 0.1%, 1% and 0.4% WoW, respectively.
Inflation for week-ended April 18 has been revised to 1.62% as against the provisional figure of 0.57%.
Here is a verbatim transcript of Latha Venkatesh's comments on CNBC-TV18. Also watch the accompanying video.
This may sound like a bit of crying wolf. But, if you looked at the WoW numbers, it has gone up by 0.6% in the second week of June from the first week of June. Year-on-Year (YoY), it will always look like negative because last year was an unusual year of commodity prices. But this WoW rallying in prices is not looking good.
Largely non-administered fuel prices, drugs and medicines and a bit of food also-food inflation is 0.1% higher, are going to suffer. What is worse? The minimum support price (MSP) for sugar has been announced, the crop is bad, you are going to see a fairly steep rise in sugar prices as well.
You could be seeing a fairly ugly development in inflation. Immediately the take home is it doesn't look like the Reserve Bank of India (RBI) has any headroom for monetary looseness.
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Inflation for week-ended June 13 came in at 
