- Wealth PMS
The first report is in: Jun 2011 Inflation comes in at 9.44% over last year. This is higher than last month’s number of 9.06%.
As usual, the great revisions are back again, to haunt us. April’s data, first announced at 8.66%, is now revised to a much higher (and scarier) 9.74%. A difference of 1.08%, which by any standard should not be forgivable.
What is a relief is that they have finally updated the price of crude petroleum, which I’ve complained about for ages. The index went from an december number of 212 to 270 in April, which has driven at least half of that scary revision (Crude is about 0.9% weight in the basket of items for inflation).
Much more to come. I’m doing the interactive map and a much longer article on it at marketvision.in, will keep you posted.