Arab Today, arab today india has tamed food prices as inflation slides
Last Updated : GMT 07:55:03
Arab Today, arab today
Arab Today, arab today

India has tamed food prices as inflation slides

Arab Today, arab today

Arab Today, arab today India has tamed food prices as inflation slides

An Indian labourer places a bag of onions
New Delhi - AFP

 India's new government declared Tuesday it had controlled rising food prices, a burning issue in a country where one-quarter of the population lives in deep poverty, after the country posted better inflation data.
Annual wholesale inflation slowed to a five-year low of 2.38 percent last month, the commerce ministry said, helped by lower food prices. The numbers came a day after data showed consumer price inflation fell to a three-year low of 6.46 percent in September, driven partly by falling food costs.
"It is heartening to note we have been able to bring food inflation under control," Finance Minister Arun Jaitley, a member of India's right-wing Bharatiya Janata Party government which took power in May, said late Tuesday.
"We are confident soon we will be achieving a low and stable inflation rate," he added.
India's central bank has said it wants to "break the back of inflation", which the country has battled for many years, before it moves to lower steep interest rates seen as keeping economic growth in low gear.
Rises in prices of food especially have caused huge hardship for India's 1.2 billion population of which nearly a quarter live in severe poverty, according to the World Bank.
Global crude oil prices, which have fallen nearly 20 percent this year, have also helped improve the inflation outlook in the fuel-import-reliant nation.
Analysts, however, noted high year-ago figures had helped improve inflation numbers and warned this base effect would wear off around November.
The bank, which kept its trend-setting lending rate on hold at a steep eight percent last week, has set a goal of whittling down consumer inflation to six percent by January 2016.
India's economy has posted two years of sub-five-percent growth, the longest slowdown in a quarter-century, and business has been clamouring for rate cuts to reduce borrowing costs and spur investment and consumer spending.
September's price inflation drop was helped by bountiful rains in the last stages of a patchy monsoon that reduced food prices.
But analysts worry inflation may remain an endemic problem with India's ramshackle rail, road and other transport, antiquated machinery and bureaucratic red tape, that slow production and deliveries.
Jaitley said the government was "committed to continuing reforms in food markets that will improve supply responses and keep inflation low".
"If this (downward inflation) trend is sustained, the central bank remains on track to achieve its six-percent consumer price inflation target," said Frederic Neumann, co-head of Asian Economic Research at HSBC.
However, the central bank is likely to "wait for further evidence price pressures are contained", Neumann said, forecasting monetary policy authorities will remain "in wait-and-see mode for an extended period of time".

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india has tamed food prices as inflation slides Arab Today, arab today india has tamed food prices as inflation slides

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today india has tamed food prices as inflation slides Arab Today, arab today india has tamed food prices as inflation slides

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Italy regions back 'big bang' autonomy

GMT 07:10 2017 Monday ,23 October

Italy regions back 'big bang' autonomy
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Syrian children die of hunger

GMT 19:25 2017 Sunday ,22 October

Syrian children die of hunger
Arab Today, arab today Maltese demand justice for murdered

GMT 06:08 2017 Monday ,23 October

Maltese demand justice for murdered
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla to build wholly-owned plant

GMT 07:55 2017 Monday ,23 October

Tesla to build wholly-owned plant
Arab Today, arab today EU raids automaker BMW

GMT 11:06 2017 Saturday ,21 October

EU raids automaker BMW
Arab Today, arab today Actress Mona Zaki praises husband’s role

GMT 08:15 2017 Thursday ,19 October

Actress Mona Zaki praises husband’s role
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:07 2017 Sunday ,22 October

15,000 Under Fives Die

GMT 12:54 2017 Saturday ,21 October

Malaysia Airlines picks new CEO

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday