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Inflation UPSC NOTE

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  Retail price gains registered a surprise acceleration last month with June’s provisional Consumer Price Index (CPI) reading showing inflat...

 

  • Retail price gains registered a surprise acceleration last month with June’s provisional Consumer Price Index (CPI) reading showing inflation snapping a five-month downtrend and quickening to 5.08%, 28 basis points faster than the 4.80% logged in May. 

  • Year-on-year food price inflation based on the Consumer Food Price Index (CFPI) quickened by 67 basis points in June to a worrying 9.36%. 

  • It is precisely this kind of unpredictability in food price gains that monetary policymakers have been concerned about in opting to leave interest rates unchanged.

  • Food price data show that the CFPI’s nine sub-categories posted month-on-month gains, with eight of them, except the sugar and condiments group, registering sequential accelerations. 

  • Vegetables continued to experience the most intense price gains, rising 29.3% year-on-year and by a worrying 11-month-high sequential pace of 14.2%. 

  • The most widely consumed potato, onion and tomato continued to log some of the fastest gains, with their prices rising year-on-year by 57.6%, 58.5% and 26.4%, respectively.

  •  IMD data as on July 14 reveal that countrywide precipitation since June 1 was still not only at a 2% deficit, but also spatially skewed

  • Eleven of India’s 36 meteorological sub-divisions were still classified ‘deficient’, meaning these regions had received 20%-59% lower rainfall than the long-period average

  • With some key food growing areas including Punjab seeing deficient rains, policymakers face an unenviable task in trying to slow the pace of inflation.


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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: Inflation UPSC NOTE
Inflation UPSC NOTE
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Learnerz IAS | Concept oriented UPSC Classes in Malayalam
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