Quick note about Primary Articles Inflation on the week ended 22 Oct: Up 12% from last year:
I’d mentioned last week that the headline numbers will look bad till mid December, because of a flattenned level last year. The inflationary trend (recent slope) has not gone down. jay Shah is right – we need to have a seasonally adjusted index and take recent trends rather than compare against a jittery base last year.
But of course, our finance minister blames it on the festive season. Forget base effects – the current inflation slope is still bad. I wonder whether the government really gives a damn anymore.
