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Indian Economy Update

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Essay title: Indian Economy Update

India Econ Flash

Friday Factsheet

Introducing a quick update on key data items that are out each Friday

➤ Inflation now in double-digits – up 11.05%: The government’s worst

nightmare has come true with inflation touching 11.05% for the week ending Jun

7 v/s 8.75% last week and 4.28% a year ago. While this week’s data incorporates

the effect of the fuel price hike (auto-fuels by 10%-15% and cooking fuels by

17%), the headline was expected to be close to ~10% levels. Besides the fuel

price increase, the uptrend seen in basic metals and iron-ore since the last two

months continues up 20.7% and 41.6% respectively.

вћ¤ Key Contributors to Inflation and Index Revisions: Primary articles were up

10.8%; manufactured products were up 9.1% while the fuel price index was up

16.25%. Of the headline 11.05% WPI number, 2.5% is attributed to primary

articles, 5.1% to manufacturing and 3.5% to the fuel index. As seen in the chart

below, upward revisions to the index continue with the April 12 data being

revised up from 7.33% to 7.95%

вћ¤

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