Primary articles is up 2% since last week, and stands at 15.35%.
I’d mentioned that last year this was a benign period, and I expect headline inflation numbers to stay high for the next few weeks anyway. Add to it the fuel price hikes, skyrocketing onion prices, increase in sugar prices (not yet in India) and the transition into manufactured goods and WPI as a whole is likely to stay very high.
(Note: Overall inflation is only reported once a month. PA inflation is announced every week)
Past revisions continue to be a problem, as the 16 Oct. data was revised to 17.91%, substantially higher than the first reported 16.62%.
Previous Inflation Posts:
- Dec 16, 2010: RBI Keeps Rates Unchanged; Liquidity Tight
- Dec 09, 2010: PI WPI Inflation: 12.66%. Big Past Revisions Continue
- Dec 02 2010: Inflation: Primary Articles at 12.72%, and a HUGE past revision
- Nov 16, 2010: October Monthly Inflation down to 8.58%