19 December, 2014 AsiaNews.it Twitter AsiaNews.it Facebook            

Help AsiaNews | About us | P.I.M.E. | | RssNewsletter | Mobile





mediazioni e arbitrati, risoluzione alternativa delle controversie e servizi di mediazione e arbitrato
e-mail this to a friend printable version


» 07/16/2012
INDIA
Inflation drops but late monsoons threaten India's food sector
In June, inflation stood at 7.25 per cent against 7.55 in May. Unsatisfied, India's central bank cannot anticipate whether interest rates will be cut as the government would like to see to boost the economy. Food sector faces crisis as late monsoons threaten harvest, higher prices.

Mumbai (AsiaNews/Agencies) - India's headline inflation fell to 7.25 per cent in June, the lowest in five months. However, the Reserve (Central) Bank of India (RBI) is not satisfied because food inflation continued to fuel the headline number. For this reason, it is likely to keep interest rates unchanged. A weaker-than-normal monsoon is also raising concerns about a possible harvest shortfall that could contribute to the continuing rise in food prices.

In May, inflation reached 7.55 per cent against 7.5 in April (revised from 7.23). At 7.69 per cent, March recorded the worst level. In January and February, it was 6.55 and 7.36 respectively. However, food inflation rose at a faster rate, 10.81 per cent in June, against 10.74 in May.

Only at the end of July will the RBI know whether to cut interest rates and meet the government's request. In April, the RBI had already cut its key interest rate by 50 basis points, or 0.5 per cent, more than the widely-expected 25 bps.

At present, predicting what the RBI might is impossible. Back in April, the central bank had added a number of caveats for future cuts, saying they would rely entirely on what the inflation rate would be.

Unusual weather conditions are not helping the economy. Late monsoon rains, which usually come in June, could damage grain and cereal crops.

Although India has a significant stockpile of food grains and cereals, it is hobbled by a weak storage and distribution system that often causes grains to rot instead of reaching the intended recipients. This means that storage costs tend to be high.

 


e-mail this to a friend printable version

See also
11/11/2010 INDIA
People dying of hunger in India, but millions of bags of grains rot outside
by Santosh Digal
09/01/2009 CHINA
China grain harvest is at risk from worst drought in recent years
07/30/2005 INDIA
India floods leave at least 850 dead
09/28/2007 INDIA
Orissa: Catholics help population affected by monsoon rains
by Nirmala Carvalho
09/12/2007 INDIA
In Assam monsoon rains displace 3.5 million people in a week

Editor's choices
IRAQ - VATICAN
As 'Adopt a Christian from Mosul' continues, Mosul bishop notes that Jesus is born amid refugee containers
by Amel NonaPersecuted by the Islamic state, refugees have lost everything: belongings, home, jobs, school, and their future. Yet, their faith and mission remain strong. For them, almost 900,000 euros have been raised and sent. Pope Francis sends a message of closeness. The campaign continues according to the Patriarch of Baghdad's proposal of fasting and moderation at Christmas and New Year, with the money saved offered to the Christians of Mosul.
IRAQ
Chaldean Patriarch calls for fasting on Christmas Eve for refugees' return to Mosul
by Joseph MahmoudMar Louis Sako calls on the faithful not to celebrate Christmas and New Year in a "worldly" fashion, with pomp and abundance, out of solidarity with the people who fled the Nineveh plains, persecuted by the Islamic Army. AsiaNews is joining the fast proposed by the Patriarch and calls on all readers to give what they would have otherwise spent in support of the campaign 'Adopt a Christian from Mosul'.
IRAQ - ITALY
Letter from Archbishop of Mosul: Thank you for your aid, supporting the plight of refugees
by Amel NonaThe donations made through the "Adopt a Christian from Mosul" campaign are used to buy food, warm clothes, blankets for refugees and rent houses or caravans given the early onset of winter and. Two women have defended their Christian faith before the Islamist militants who wanted to convert them, despite the threat of death. A refugee among refugees, Msgr. Nona discovers a new way of being a pastor.

Dossier

by Giulio Aleni / (a cura di) Gianni Criveller
pp. 176
Copyright © 2003 AsiaNews C.F. 00889190153 All rights reserved. Content on this site is made available for personal, non-commercial use only. You may not reproduce, republish, sell or otherwise distribute the content or any modified or altered versions of it without the express written permission of the editor. Photos on AsiaNews.it are largely taken from the internet and thus considered to be in the public domain. Anyone contrary to their publication need only contact the editorial office which will immediately proceed to remove the photos.