• Monsoon turns weak again

    Even as the government talks about a recovery in the kharif sowing pattern, the monsoon is moving in a volatile fashion. Last week (July 23-July 29), the actual rainfall was 18% less than the average seen in this period. In the previous week, actual rainfall was 15% higher.

  • Inflation in rural areas rises sharply

    Consumer inflation has been on a steady rise even as wholesale price inflation has been dropping, even turning negative in certain weeks. This is not a new development but the trend is not showing signs of slowing down. The Consumer Price Index for agricultural labour increased by 11.5% in June 2009 over the previous corresponding period while CPI for rural labour too increased by 11.2%. The price index had risen by 10.2% in May 2009, reflecting a sharp increase.
     

  • Inflation at 0.26% in the April 11 week, up marginally

    Though fuel prices have come down sharply, lowering overall inflation, basic, food and manufactured product prices either continue to rise or remain stagnant. In the week ended April 11, inflation was at 0.26%, almost close to zero but higher than the previous week’s level of 0.18%.
     
    Primary article prices are up by 4.3% over the same week, a year ago with food prices being up by 7%. Mineral and ore prices have fallen sharply. Manufactured product prices have not fallen, with producers holding on to prices to compensate for falling volumes, it seems.

  • Rail freight traffic in November up by just 1.3%

    More evidence of the slowdown, not that anyone needs it. The Indian Railways play a key role in the transportation of certain petroleum products, cement and clinker, coal, iron ore and agricultural products. In FY08, volume traffic growth was high at 9% but FY09 has seen growth decelerate. In November’08, volume traffic is up by just 1.3% to 66.6mn tonnes and up by 6.5% to 534.6mn tonnes in the April-November period.

  • India's monsoon forecast upgraded: good for farm and economy

    The Indian weather bureau has updated its initial forecast for the Southwest Monsoon. In April 2008, the bureau had predicted that rainfall would be 99% of its long term average, plus or minus 5%. The long term average refers to a rainfall of 89 cms. The updated forecasts suggests rainfall to be near normal, and will be 100% if its long term average, plus or minus 4%.
     

  • Lower US interest rates = Good times for India?

    The week that went by saw the Fed cut rates by 50 basis points, more than what anyone anticipated. That sparked off rejoicing in global and Indian equity markets, and the local benchmark, the BSE Sensex crossed the 16,000-mark. 
     

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