- Wealth PMS
Primary Articles Inflation (which is mostly food, and is about 20% of the overall inflation figure) came in at 11.52% for the week ended May 28.
(We only get Primary Articles and Fuel inflation, which are 20 and 15% of the overall basket of goods used for inflation. The remaining is what is called “Manufactured Goods”, released once a month only. May data will be available around June 15, which is when March data will be revised)
And as they revise past data for two months ago, the revisions for the week of April 2 came in. That data has now been revised dramatically:
This simply means we can’t trust first reported data. What is 11% today may actually be 14%. Even 11% is too high but 14% is enough for serious action. Stop buying those dollars already!