Pranab Mukherjee concerned over inflationary
Andhra Pradesh ~ India ~ International ~ City ~ Entertainment ~ Business ~ Sports ~ Technology ~ Health ~ Features
Ratan Tata ~ Pranab Mukherjee ~ Forex Rates ~ Bullion Rates ~ RBI ~ SEBI ~ Stock Markets
Home / Business News / 2010 / September 2010 / September 14, 2010
Pranab Mukherjee concerned over inflationary pressure on food items
RSS / Print / Comments

Anand Sharma

India-Germany discusses collaboration in knowledge, infrastructure sectors

Obama's India visit: No major game changer expected(Re-issue with corrections)

Haryana gives Rs.15 lakh each to three gold medal wining wrestlers

More on Anand Sharma

Reserve Bank of India

Manmohan Singh reviews financial inclusion efforts

RBI raises key rates to tame inflation

Reserve Bank of India raises repo rate by 25 bps, reverse repo by 50 bps

More on Reserve Bank of India

Pranab Mukherjee

Congress decides to avoid hasty decision on the fate of Karanataka Govt.

Pranab Mukherjee seeks more financial sector reforms

Pranab cautions the world on 'fragile' global economic recovery

More on Pranab Mukherjee

Top News

144 Section in Hyderabad ahead of Ayodhya verdict

18 killed, several injured as bus falls into river in Bulandshahr

Pak's flawed Afghan policy of support to terror groups will bite back hard: Editorial

Ajay Devgan prays for success of his film in Ajmer

Pranab Mukherjee seeks more financial sector reforms

Australia asks CWG organizers for better treatment at closing ceremony

Study to find whether leptin helps type 1 diabetic patients

New study confirms smoking, cancer link (reissue)

Pranab Mukherjee concerned over inflationary pressure on food items

Expressing concern over inflationary pressure on food prices, Finance Minister Pranab Mukherjee on Tuesday said that the Reserve Bank of India (RBI) and the Finance Ministry will take appropriate action as and when required.


New Delhi, Sep 14 : Expressing concern over inflationary pressure on food prices, Finance Minister Pranab Mukherjee on Tuesday said that the Reserve Bank of India (RBI) and the Finance Ministry will take appropriate action as and when required.

Talking to reporters here after releasing the Wholesale Price Index (WPI) for August, Mukherjee said:"Inflationary pressure is still there because food prices have gone up because of the erratic monsoon and certain other things."

"The RBI is constantly watching the situation. We are in touch with the RBI. The RBI and the Ministry of Finance will take appropriate measure at the appropriate time," he added.

"I do hope that annual inflation would be much lower and it will be much below in the new series at 8.5 per cent in the annualised rate... I think it be well below in the annualised rate," he said.

As per the new series of inflation based on 2004-05 prices released by the government today, the Wholesale Price Index (WPI) for the month of August stood at 8.51 percent.

The WPI index stood at 9.5 percent in the month of August as per the old series.

Overall inflation in August witnessed a fall of 1.27 percentage points from 9.78 per cent in the month of July, as per the new series, which considers 2004-05 as the base year.

"It (the new index) will help in informing both the government and people how the prices are moving. This will give a robust picture and reflect actual price movement,"

Union Commerce and Industry Minister Anand Sharma today said food inflation is still a cause of concern.

The Wholesale Price Index or WPI is the price of a representative basket of wholesale goods. Some countries use the changes in this index to measure inflation in their economies, in particular India - The Indian WPI figure is released weekly on every thursday and influences stock and fixed price markets.

The Wholesale Price Index focuses on the price of goods traded between corporations, rather than goods bought by consumers, which is measured by the Consumer Price Index.

ANI

Link to this page

Suggested pages for your additional reading
AndhraNews.net on Facebook






© 2000-2018 AndhraNews.net. All Rights Reserved and are of their respective owners.
Disclaimer, Terms of Service & Privacy Policy | Contact Us