Economy moves to low level of inflation in last 5 fiscals Survey

first_imgNew Delhi: The country’s inflation rate has moved to a more stable and low level in the last five fiscals, and controlling price surge remains a key policy focus area of the government, the Economic Survey for 2018-19 said Thursday. Retail inflation based on consumer price index – Combined (CPI-C) fell to 3.4 per cent in 2018-19 from 3.6 per cent in 2017-18, 4.5 per cent in 2016-17, 4.9 per cent 2015-16 and 5.9 per cent in 2014-15, the Economic Survey 2018-19, tabled by Finance and Corporate Affairs Minister Nirmala Sitharaman in Parliament, said. Also Read – Maruti cuts production for 8th straight month in SepRetail inflation during the first month of the current fiscal stood at 2.9 per cent, down from 4.6 per cent a year ago. Food inflation based on Consumer Food Price Index (CFPI) declined to a low of 0.1 per cent during the financial year 2018-19, the survey said. “The Economic Survey states that the economy witnessed a gradual transition from a period of high and variable inflation to more stable and low level of inflation in the last five years. Also Read – Ensure strict implementation on ban of import of e-cigarettes: revenue to Customs”The government has taken a number of measures to control inflation specially food inflation,” as per the survey. Controlling inflation remains a key area of policy focus and the general measures such as regular monitoring of inflation, issuing advisories to states against hoarding and black marketing, holding regular review meetings on prices and availability of key commodities were taken to keep inflation in check, the survey said. Higher Minimum Support Prices (MSPs) for pulses and other crops to incentivise production and setting up of Price Stabilisation Fund (PSF) for procurement of agri-horticultural commodities are among the other steps taken. Specific measures such as releasing onions at reasonable prices, utilisation of pulses from buffer for strategic market interventions and to meet the requirements of the Army and Central Para-Military Forces were among the specific measures taken by the government, according to the survey. The survey also finds that food inflation in the country has been extremely benign. “Average food inflation for the financial year 2018-19 declined to a low of 0.1 per cent. The food deflation in the second half of 2018-19 is mainly due to deflation in vegetables, fruits, pulses and products, sugar and confectionary and eggs, which together account for 13.1 per cent rate in overall CPI-C,” the survey said. The year also witnessed reduction in both rural and urban inflation, while many states witnessed fall in retail inflation.last_img read more

US stock market steadies itself after worst week since 2012

NEW YORK, N.Y. – U.S. stocks are stabilizing after their worst week in more than two years.The Dow Jones industrial average edged up one point to 16,546 in early trading Monday.The Standard & Poor’s 500 index also rose a point to 1,907. The Nasdaq composite rose seven points to 4,284.European stock markets also rose. China released trade figures Monday that showed a pickup in export growth and imports last month.U.S. stocks swung wildly last week and ended lower because of renewed fears of a slowdown in European economies. The S&P 500 fell 3.1 per cent, its worst weekly performance since a 4.3 per cent decline in May 2012.J.C. Penney rose 5 per cent Monday after it named a Home Depot executive as its next CEO. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email US stock market steadies itself after worst week since 2012 by The Associated Press Posted Oct 13, 2014 7:41 am MDT read more