Skip to main content

Inflation rate up at 7.33%

Inflation rate grew by a faster 7.33% in the week ended 12 April 7.14% in the previous week, on higher prices of food items, including jaggery and fish.
The price rise is expected to prompt Reserve Bank of India (RBI) to further tighten money supply in its annual credit policy slated to be announced on 29 April.
RBI has already increased CRR, the mandatory amount that banks keep with the central bank, by 0.5% check money supply. The hike will come into effect in two tranches on 26 April and 10 May.
The annual rate of inflation, which dipped from a 40- month high of 7.41% to 7.14% for week ended 5 April, again rose despite a host of measures announced by the government to control prices. Inflation for the corresponding period last year was at 6.34%.
The prices of certain essential commodities like vegetables, cereals, pulses and edible oils, however, softened during the week.
The average rate of inflation, according to the official data, worked out to be 4.51% during 2007-08 as compared to 5.42% in the previous fiscal.
Meanwhile, leaders of the Left Parties met Prime Minister Manmohan Singh and demanded immediate steps to check prices.
Inflation figures for the week ended 16 February were revised from the provisional 4.89% to 5.66%.

Comments

Post a Comment

Popular posts from this blog

RBS picks up 0.60% stake in Gateway Distriparks

The Royal Bank of Scotland (RBS) has picked up 0.60% stake in logistic services provider -- Gateway Distriparks. The bank has bought 6.40 lakh shares in the company for a total consideration of Rs 8.32 crore. Gateway Distriparks, incorporated in 1994, is engaged in the business of warehousing, container freight stations, providing handling and clearance of sea borne export-import trade in containerized form.
Post a Comment
Read more

Day End Report

The Sensex opened with a huge downward gap of 250 points at 13,856, and soon touched a low of 13,731. Another rise in repo rate and Cash Reserve Ratio by the RBI sparked off heavy sell-off in opening trades. However, fresh buying at lower levels helped the index recover all its losses by mid noon trades. A fresh round of buying in late trades saw the index surge to a high of 14,249 - up 518 points from the days low. The Sensex finally settled with a gain of 113 points at 14,220. The NSE Nifty ended with a gain of 60 points at 4,251. The market breadth was marginally positive- out of 2707 stocks traded, 1,370 advanced, 1,264 declined and 73 were unchanged today. Reliance Communications (RCom) zoomed 7.2% at Rs 509. Tata Steel surged 4.5% at Rs 743. DLF and Reliance Infra gained 4.2% each at Rs 458 and Rs 945, respectively. TCS and Bharti Airtel advanced 4% each at Rs 877 and Rs 780, respectively. Ranbaxy was up 3.8% at Rs 545. BHEL gained 3.7% at Rs 1,442. Reliance advanced 3.4% to Rs 2...
Post a Comment
Read more

Auto industry records highest-ever sales in Jan

Riding on the back of economic growth, easy availability of finance and the continuing fiscal stimulus, the domestic auto industry has posted the highest ever monthly sales in January. The strong growth is both in terms of passenger car volumes and the total vehicle sales. According to Society of Automobile Manufacturers (SIAM) data, the passenger car segment has posted a 32 per cent growth in domestic sales at 145,905 units in January, over the same month last year. The last highest-ever monthly sales in the segment were in March 2009, when it sold 129,358 units. Meanwhile, overall sales across the industry grew 45 per cent at 1,114,157 units. The earlier record of highest ever monthly sales was in October 2006, when the industry had sold 1,017,198 units. Individually, the umbrella passenger vehicle segment posted a 37 per cent growth, while the commercial vehicle (CV) segment grew 131 per cent. Also, the two-wheeler and three-wheeler segments rose 43 and 47 per cent, respectively.
Post a Comment
Read more