Carlos Slim is eating into NYT

The billionaire has upped his stake to 7.3% from 6.9%. This could be because the New York Times is no longer giving away news content for free over the Internet. And of course, the newspaper's scrip went up 3% yesterday.

Read Article...

User

How bad is the US debt problem?

Debt growth is actually slowing down.

See Chart...

User

Food inflation rises to 9.80% for week ended 13th August

In its Economic Outlook for 2011-12 released earlier this month, the PMEAC said that while pressure from food inflation has fallen in recent months, the rate of price rice still remains quite high, with the possibility of a further surge in coming months

New Delhi: Inching closer to the crucial double-digit mark, food inflation rose to 9.80% for the week ended 13th August on the back of dearer onions, potatoes, fruits and protein-based items, reports PTI.

Food inflation, as measured by Whole Price Index (WPI), stood at 9.03% in the previous week. The rate of price rise of food items in the corresponding week of August 2010 was 14.56%.

As per data released by the government today, the price of onions soared by 44.42% year-on-year, while potatoes became 16.39% more expensive during the week under review.

During the week ended 13th August, fruits became dearer by 27.01% and eggs, meat and fish by 13.37% on an annual basis.

The price of milk was up 9.51%, while vegetables and cereals became dearer by 6.52% and 5.22%, respectively.

However, pulses became cheaper by 5.56% and the price of wheat was down by 2.80% year-on-year.

Overall, primary articles recorded 12.40% inflation for the week ended 13th August, up from 11.64% in the previous week. Primary articles have a share of over 20% in the WPI.

Inflation in non-food articles, which include fibres, oil seeds and minerals, stood at 17.80%, compared to 16.07% in the previous week.

Meanwhile, fuel and power inflation stood stable at 13.13% for the week ended 13th August, the same as in the week ended 6th August.

Seeking to allay concerns over the rate of price rise, prime minister Manmohan Singh had yesterday expressed confidence that headline inflation would come down to 6% by the year-end.

"I am not an astrologer, but analysts have said that by the end of this year, inflation will come down to 6%,"Mr Singh had said during an Iftar dinner hosted by him.

Headline inflation, which also factors in manufactured items, fuels and non-food primary items, besides food, stood at 9.22% in June.

The Reserve Bank of India (RBI) has already hiked interest rates 11 times since March 2010 to tame demand and curb inflation.

The RBI and the Prime Minister's Economic Advisory Council (PMEAC) had projected headline inflation to remain high at around 9% till October.

Food inflation was in double digits for most of 2010, but started to moderate from March this year.

It fell to 7.33% in mid-July, before again rising to a four-and-a-half month high of 9.90% in end-July.

The rate of price rise of food items has been highly volatile in the past few weeks.

In its Economic Outlook for 2011-12 released earlier this month, the PMEAC said that while pressure from food inflation has fallen in recent months, the rate of price rice still remains quite high, with the possibility of a further surge in coming months.

User

We are listening!

Solve the equation and enter in the Captcha field.
  Loading...
Close

To continue


Please
Sign Up or Sign In
with

Email
Close

To continue


Please
Sign Up or Sign In
with

Email

BUY NOW

The Scam
24 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
Moneylife Magazine
Fiercely independent and pro-consumer information on personal finance
Stockletters in 3 Flavours
Outstanding research that beats mutual funds year after year
MAS: Complete Online Financial Advisory
(Includes Moneylife Magazine and Lion Stockletter)