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Rising prices..
Union Budget (2008-09)
Railway Budget 2008-09
July 31, 2008: Inflation raced to a fresh
high of 11.98% for the week ended July 19, 2008, driven by higher cost of
commodity. Previous week it was 11.91%
India's most widely watched inflation measure, which rose 11.89 per cent in the 12 months to June
28, 2008. The rise was the highest since annual numbers in the current series became available in April 1995, outstripping the previous week's annual rise of 11.63 per cent and the market's 11.75 per cent forecast.
July 07, 2008: Oil prices have already breached the $146 a barrel mark, and economists as well as speculators warn that it could climb to the $170 level before year-end.
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August
14, 2008: Inflation soars to a new
high of 12.44%.
The annual rate of inflation stood at 12.44% for
the week ended August 2, 2008, fuelled by costlier food articles.
Overall index of food articles rose by 0.9% over the last week.
|
Market Monday,
August 18, 2008 |
| BSE |
14645.66
(- 78.52) |
| NSE |
4393.85
(-37.65) |
| DOW |
11604.86
(- 35.04) |
| NASDAQ |
2442.43
(-10.09) |
| NIKKEI |
13165.45
(+146.04) |
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August
07, 2008: Inflation soars to a new
high of 12.01%
|
Bullion |
| Gold
(10gm) |
11550 |
| Silver (1Kg) |
20400 |
| Biscuit |
11540 |
| Ornament(22crt) |
10588 |
| Silver Coin |
269 |
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According to the latest data, inflation for
the week ended July 26, rose 12.01%, showing a marginal 0.03% point
increase over the previous week. It is highest in over 13 years, as
prices of pulses, spices, eggs etc. continued to rise.
July
11, 2008: Inflation soars
to a new high of 11.89%
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Forex |
| US Dollar |
43.59 /
43.60 |
| Pound |
81.35/
81.40 |
| Euro |
.64.11 /
64.15 |
| Yen
(100) |
39.54 /
39.56 |
| Singapur $ |
30.80 /
30.84 |
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NEW DELHI,
July 04, 2008: Surging food and
commodity prices pushed inflation further up to 11.63 per cent for the week ended June
21, 2008, from 11.42 per cent in the previous week. Inflation for the week ended June 14 was revised upwards to
11.42 percent from 8.23 percent. The annual inflation rate was 4.13 percent during the corresponding week of the previous year.
While food articles and textiles were up
0.8 per cent, primary articles rose by 0.9 per cent, and fuel, power and energy were up by 0.1 per cent. A steep rise of 3.6 per cent was recorded in minerals, while tea was up by 3 per cent. Non-food articles, however, were down by 0.5 per cent. Inflation had already raced to a 13-year high of 11.05 per cent for the week ended June 7, driven by a 7.8 per cent rise in fuel, power and lubricants prices and a 14 per cent surge in ATF prices.
Sadly, however, there is no respite in sight from this soaring inflation. Even finance minister P Chidambaram has admitted that double-digit inflation would continue for some more weeks.
Experts too are of the opinion that double-digit inflation is here to stay for some more time, but could trend down in September. With prices of crucial commodities like steel likely to rise further, inflation is expected to stay over 11 per cent before it peaks around September, they say.
It is estimated that steel and steel products (used in industries like auto, housing, white goods, capital goods etc) contribute almost 21 per cent to inflation. Cement prices are expected to remain soft, thanks to capacity addition.
Earlier this week, the RBI raised the cash reserve ratio (the proportion of bank deposits parked with the RBI) to 8.75 per cent and the repo rate (the rate at which RBI lends to banks) to 8.5 per cent as part of monetary tightening to check inflation.
Source: ECONOMICTIMES.COM |
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