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Higher food prices push inflation to 9.73 pc
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SME Times News Bureau | 14 Nov, 2011
A rise in prices of food articles, notably lentils, rice, milk, condiments, fruits and vegetables marginally pushed India's annual rate of inflation to 9.73 percent for October from 9.72 percent in the previous month.
According to latest data on the wholesale price index released by the commerce ministry, the rise was spread across commodity groups. Primary articles registered an inflation rate of 11.4 percent, fuels were up 14.79 percent and factory goods 7.66 percent.
The high inflation rate has been a cause for concern both for the Reserve Bank of India and the government, with Prime Minister Manmohan Singh terming it a "worrisome" problem. "I do not deny it particularly with regard to food prices," he said last week.
"Foodgrain prices are stable. But the prices of vegetables and that of tertiary goods are going up. The demand is growing on a much faster rate on the supply curve. "One reason why inflation has become a problem is due to the prices of fuel products," the prime minister said.
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inflation : effect on daily life of common man
b.b.rao m.d. | Tue Dec 13 15:21:13 2011
every common man feels the heat of raising prices vs demand and gap is not met by any means.govt says grains are distributed by f.p.shop but at subsidised rate to many which is not contributing to the inflation . what is effecting the common man is vegetables and cereals, and any way he does not touch fruit sector so no question of control. the govt should control the prices by a mechanism for two items, cereals and vegetables, where in petro products are detached, so rise and fall is controlled by demand hence govt. must concentrate on on efficient transport easy shiftig children education to suite the work site of parents to relocate and reduce travel costs. for vegetables, crop area should increased followed by middle man. in fact at veg market morning auction the middel man fixes the rate, god only knows how he fixeup rate for others product. the govt takes the market yard ,as a small effect on prices but for the common man this burden of price on daily basis push up the monthly budget.what i put before you micro level control of prices only will be effective to common people. cerals are traded but shall have population in mind .unfortunate part is big ex port hoses hold stocks on political big wigs which we have recently witnessed,the nexus should be brocken and shall at the hand of p.m. alone ,as only he faces the people and not the ministers. finally on petro products, govt .should control consumption by ration /or develop enrgy efficint time reducing travel there
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