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India's inflation pressures stay high

IMG Auteur
Published : November 19th, 2012
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Category : On the Web
Asia Times, in its November 16, 2012 article, reports that India's inflation pressures stay high.

Extract :





India's latest inflation figures, as shown in October Wholesale Price Index (WPI) data released on Wednesday, came in at 7.45% year-on-year (y-o-y), lower than the 7.81% increase recorded during September.

What is disconcerting is that the August inflation number was again revised upward, this time by 0.46 percentage points to 8.01%, the highest since September 2011. Between January 2010 and August this year - 32 months - the inflation number was unchanged only once; thrice it was revised lower while it was

This continuous upward revision brings to question the credibility of the inflation data and, given its clear upward bias, makes it that much more difficult for the Reserve Bank of India to make an appropriate monetary policy call. There is every likelihood that the September and October data will be revised upward, perhaps again beyond 8%.



Read the rest of the article at Asia Times
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