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Consumers Are Feeling Unfulfilled
Puffed up packaging is prompting a spate of class-action lawsuits from consumers questioning why there is empty space where their food or beverages should be. Here are seven products that have faced challenges from consumers who allege that there should not be less to eat or drink than meets the eye.
 
 
What does this all boil down too? Size matters.
 
 

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India: WPI exits deflation

India's wholesale price index (WPI)-based inflation rose 0.3% in April from 0.9% a month ago, returning to a positive territory after remaining in deflation for 17 months. However, Nomura feels that owing to rising costs amid still-subdued domestic demand, profit margins could come under pressure.

 

"Indeed, a breakdown of the WPI into input and output prices shows that the majority of the pick-up was driven by higher input costs (food, fuel and commodities), which accelerated to -0.5% from -2.1% in March. Output price inflation also rose, but marginally to 1.7% from 1.3%, indicating that producers in select segments also passed on higher input costs to consumers," it said in a research note.

 

According to Religare Capital Markets Ltd the turnaround was on due to a surge in food product inflation (led by sugar) – core WPI stayed in the negative zone, at -0.8%. "Given that the deflation in global commodity prices is moderating, we expect the WPI to continue to edge up – this is positive for a recovery in nominal growth," it added.

 

 

 

WPI food price inflation (primary plus manufactured) rose 5.4% in April from 4.0% in March, while core WPI (WPI manufactured ex-food) deflation eased to -0.8% from -1.1%.

 

 

 

The uptick in April was driven by three factors, food prices, higher global commodity prices and better domestic demand, Nomura says.

 

1. Food prices sequentially rose sharply led by a pick-up in the prices of pulses (4% m-o-m), vegetables (4.7%) and manufactured food such as sugar (8.4%) and tea and coffee (12.9%). Although fruit and vegetable prices typically rise during the summer months, the pick-up in the case of vegetables was stronger than a year ago, driving up y-o-y food price inflation.

2. Higher global commodity prices pushed up the prices of fuel (aviation turbine fuel, bitumen, petrol), primary non-food articles (oilseeds and fibres) and select manufactured products (basic metals and chemicals).

3. Better domestic demand pushed up the prices of cement, beverages & tobacco and wood products. However, we do not view demand-side pressures as broad-based, as segments such as paper and leather products witnessed sequential price declines.

 

According to Religare, the deflationary spell in the Indian economy was largely driven by a sharp fall in global crude oil and metal prices. Ex-crude oil, mineral oils and metals, WPI stood at 2.4% in April 2016 and has remained positive in 15 of the last 18 months. "Given moderating deflation in international commodities, we expect WPI to continue to rise in the near term – positive for nominal GDP growth," the report concluded.

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COMMENTS

B. Yerram Raju

9 months ago

Deflation in India if at all believed to have existed, it was in statistician's books. Retail inflation still rules roost. Food inflation is likely to touch the alarming territory with 10 states reporting drought for a consecutive second year.

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