InfoAnda - India food inflation accelerates to year-high

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Russia to free four Western spies for its agents | 9 July 2010
Yahoo! News | 3 January 2011
Obesity fears inspire Mexican office exercises | 28 July 2010

Another Foxconn worker dies, family blames overwork | | 3 June 2010

Forum Views () Forum Replies ()

Read more with google mobile : India food inflation accelerates to year-high

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam India food inflation accelerates to year-high Reuters - Friday, January 7 Send IM Story Print By Abhijit Neogy NEW DELHI - India's food inflation rose for the fifth straight week to the highest in more than a year, reinforcing fears it has spilt over to broader prices and cementing expectations of a January interest rate hike. But the spurt in prices of many basic foodstuffs has also raised questions over the government's ability to control price rises through monetary policy, with poor infrastructure, hoarding and supply bottlenecks contributing to stubbornly-high food inflation. Unseasonable rains are officially blamed for pushing up prices of vegetables such as onions and tomatoes, but some commentators point instead to poor agricultural productivity and transport after years of few reforms and weak government investment. Onion prices, a key food staple for Indian families, rose over 23 percent over the week to December 25. The food price index rose 18.3 percent in the year to December 25 and the fuel price index climbed 11.6 percent. This compared with 14.4 percent and 11.6 percent annual rises the previous week. "This number reinforces the base case scenario of a 50 basis point rate hike in January," said Hitendra Dave, Head of Global Markets, HSBC India, Mumbai. "One has to be prepared now for a much larger frontloaded rate hike series than what one was expecting say a month ago and therefore the entire swap curve should shift upwards," Indian swap rates and bond yields rose after data showed a sharp rise in the food price data, cementing expectations for further rate hikes by the central bank in a January 25 review. The most-traded 8.08 percent 2022 bond yield rose as much as 3 basis points to 8.15 percent after the data while the less liquid benchmark 10-year bond yield rose 2 basis points to 8.10 percent. The benchmark 5-year swap rose 9 basis points to 7.84 percent and the 1-year swap rose 8 basis points to 7.10 percent. India's central bank, which raised interest rates six times in 2010, is expected to increase rates by at least 25 basis points on January 25, a Reuters poll showed on Wednesday. Analysts forecast rates to rise by 75 basis points in 2011. "While some part of the spike in food inflation is onion-prices driven, it confirms a persistent rise in inflationary pressures on other components," said Deepali Bhargava, economist with ING Vysya Bank in Mumbai. "Inflation for December is expected to rise to over 8 percent following which we expect the RBI to hike by 25 basis points in January." PAKISTAN BANS EXPORT OF ONIONS TO INDIA In a sign of how food inflation could also spill into politics, there were signs of a mini-trade war with Pakistan as India's Trade Minister Anand Sharma called a reported move by Pakistan to ban onion exports to India as "shocking", according to the Press Trust of India. The ban came after India stopped exports of cotton, hitting Pakistan. Food inflation, so far mostly domestically driven, comes at a bad time internationally for India. Global food prices hit a record high last month, outstripping levels that prompted riots and protests in 2008, and key grains could climb further as weather patterns give cause for concern, the UN's food agency Food and Agriculture Organisation said. Finance Minister Pranab Mukherjee has asked state governments to remove supply side bottlenecks and ensure prices of food products like vegetables, meat and fish come down, but previous statements like this often fell on deaf ears. C. Rangarajan, chairman of the prime minister's economic advisory council, said on Wednesday more action on interest rates may be needed if inflation stays high. Food articles have a weight of 14.34 percent in the wholesaleprice index, India's most widely watched gauge of inflation. Headline inflation had eased to a 12-month-low of 7.48 percent in November after hitting 8.58 percent in October. Consumer Price Inflation in China was 5.1 percent for November. In a sign the govenrment may be running out of ideas, finance ministry's chief economic adviser, Kaushik Basu, has said monetary and fiscal policy may not be adequate to food inflation and India may have to live with high price rises. Recommend Send IM Story Print Related Articles Champion Ogilvy out after sea-strolling finger injury AFP - 33 minutes ago Pakistan bows to opposition demands on fuel price Reuters - 1 hour 13 minutes ago Japan wants 'concrete' N. Korea steps before talks AFP - 1 hour 29 minutes ago Yao undergoes left ankle surgery: report AFP - 1 hour 33 minutes ago Chaos at remand of alleged Pakistan assassin AFP - 2 hours 55 minutes ago News Search Top Stories Egypt Copts mark Christmas under tight security France fears 'economic war' after Renault spy scandal VW, Daimler to sign $5bn Chinese contracts: source De Niro to lead Cannes film festival jury US Treasury asks Congress to lift debt ceiling More Top Stories » ADVERTISEMENT Most Popular Most Viewed Falling blackbirds baffle Arkansas officials Hasta la Vista: Arnie quits as California governor Goldman deal 'values Facebook at $50 billion' Spain lotto winner nearly loses millions by tossing tickets Brazil's 2010 trade surplus lowest in 8 years: official More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Friday, 7 January 2011
France fears 'economic war' after Renault spy scandal
US-TECH Summary
VW, Daimler to sign $5bn Chinese contracts: source
GameStop's holiday sales disappoint, shares drop
De Niro to lead Cannes film festival jury
Nvidia's new mobile chips in Acer, Dell devices
Sony stays loyal to 3D at CES gadget fest
US Treasury asks Congress to lift debt ceiling
I.Coast's Gbagbo has 'blood on his hands' says rival
Always connected lifestyle on display at CES
Israel airport wifi blocks political sites
Sudan still not agreed to bigger UN force: official |
Probe may push Facebook to early stock offering
U.S. bars financial dealings with Ivory Coast president
Analysis: Microsoft embrace boost for ARM, worry for Intel
U.S. to send 1,400 Marines to Afghanistan
Apple launches app store for Macs, a la iPhone
Sony stays loyal to 3D at CES gadget fest
Iran sent US spy back to Armenia: report
Former boss feared Pakistan suspect's extremism
Microsoft sold over 8 million Kinects in 60 days: CEO
U.S. healthcare law repeal hurts deficits
Pakistan bows to opposition demands on fuel price
US protests over Vietnam treatment of diplomat
Microsoft sold 8 mln Kinects in first two months
"Twilight" and Katy Perry among People's Choice winners
Geithner says U.S. could hit debt limit by March 31
China expels drug safety official from party: report
Skype acquires Qik mobile video company |
Thai MP in Cambodia court over border incident
Analysis: Facebook ignites Bubble 2.0 chatter |
Pakistan PM reverses petrol hike under pressure
India food inflation accelerates to year-high
US-ENTERTAINMENT Summary
Nvidia's new mobile chips in Acer, Dell devices |
Anna Nicole Smith boyfriend likely to escape jail
Swiss festival invites jailed Iranian film maker Panahi
Berlin museum extends popular Hitler exhibition
Japanese politician, 50 gives birth to first child
De Niro to lead Cannes film festival jury
Batman's French Muslim ally angers US bloggers
China to buy 6.0 bn euros of Spanish debt: report
China to build $1.5 bn trading centre in Thailand
Taiwan's HTC posts 70 percent rise in 2010 profit
Coffee capsule inventor aims for Asia with tea
Anna Nicole Smith boyfriend likely to escape jail |
Paula Abdul dances back into hearts of viewers |
Egypt Copts mark Christmas under tight security
Britain raises terror threat level at airports: report
Two Koreas and U.S. militaries lower alert: report |
Toshiba year-end TV sales strong but 3D weak
US sends 1,400 more Marines to Afghanistan
Cautious optimism ahead of US jobless numbers
Australia floods cause months, possibly years, of damage |
France fears 'economic war' after Renault spy scandal
Afghans protest Iran fuel truck ban
Gates hopes to bolster U.S.-China military dialogue |
Jackson dead before paramedics arrived, court told
Samsung seeks 15 percent TV sales jump in smart TV push
Egypt's Mubarak warns Israel against new Gaza war
Israel: No Iran bomb before 2015 |
Japan wants 'concrete' N. Korea steps before talks
Verizon CEO ponders shift to use-based mobile plan
China confirms President Hu to visit U.S. from January 18 |
Iraqis look to U.S. foe Sadr to help stabilise state
Chilean scientists seek alcoholism vaccine
UN's Ban names panel for Haiti cholera probe |
LG eyes 2-3 times rise in smartphones, focus on high-end
Iran denies detaining American woman
Egypt Copts mark Christmas under tight security
Clinton condemns Belarus crackdown, meets activists |
RIM seeks 2 years to address email security: report
Mubarak says Israel must revise position on talks
Sony aims for No. 2 spot in tablet devices
Corrected: Record high food prices stoke fears for economy |
Pakistan-Afghanistan to hold peace jirga
Samsung profit set to recover on gadgets after dip
Pope prays for Christians after Copt attack
Cambodia says KRouge trial should preserve peace
Israelis bribed to admit U.S. goods to Gaza
FCC head urges swift action on spectrum crunch
Chinese fireworks artist tries to shift blame over disappointing show
Data security center in Utah targets cyberspace
Cargo ship fire kills four Chinese off S. Korea
US-TECH Summary
Thai opposition eyes Thaksin's sister for PM
Australia coal industry may see long disruption due to floods
Samsung seeks 15 percent TV sales jump in smart TV push
England captain toasts 'special' Ashes series triumph
LG eyes 2-3 times rise in smartphones, focus on high-end
China smoking deaths could triple by 2030: report
Sony aims for No. 2 spot in tablet devices
Fake Indonesian inmate exposes prison corruption
Samsung seeks 15 percent TV sales jump in smart TV push |
Samsung profit set to recover on gadgets after dip
Two Koreas and U.S. militaries lower alert
Toshiba year-end TV sales strong but 3D weak |
Why French are world champs in pessimism
COMMENTARY: Exposing hypocrisy of nations
India's magicians: striving hard not to disappear
Verizon CEO ponders shift to use-based mobile plan |
FCC head urges swift action on spectrum crunch |
Oprah delighted with OWN network launch
Eminem, Drake lead rap sales surge in 2010
RIM seeks 2 years to address email security: report |
US judge zaps Harry Potter plagiarism suit
LG eyes 2-3 times rise in smartphones, focus on high-end |
Michael Jackson doctor kept mum about propofol at hospital
Facebook documents reveal strong profits: source |
Case dismissed against Anna Nicole Smith boyfriend
Sony aims for No. 2 spot in tablet devices |
Sundance invites 26 to world premiere of film
Samsung profit set to recover on gadgets after dip |
Mass bird and fish deaths stoke curiosity
Indian animators to partner with US TV firm
China SAIC shares jump on strong 2010 sales
China rare earth curbs could raise prices: report
Seoul shares end up 0.4 pct on autos, Samsung Elec down
Korea Hot Stocks-Hyundai Motor up, savings banks rally
Pakistan
Samsung Q4 profits seen lower at $2.67 bn
Seoul shares end up 0.4 pct on autos, Samsung Elec down
S.Korea won down on firm dlr, foreigners stock sales
Michael Jackson doctor kept mum about propofol at hospital |
Seoul shares open down, Samsung Elec falls
Case dismissed against Anna Nicole Smith boyfriend |
Sundance invites 26 to world premiere of film |
Oprah delighted with OWN network launch |
Piers Morgan vows a butt-kicking talk show on CNN |
ARM says Microsoft needs it for mobile
Homeless man finds success with golden voice |
Eminem, Drake lead rap sales surge in 2010 |
Skype buys smartphone video star Qik
Mike Tyson, pigeon fancier, gets his own TV show |
EU rejects Iran's offer of atomic site tour
Germany closes 4,700 farms in dioxin scare
Taliban attack kills 17 at Afghan public bath
German imports hit all time high in November
Obama names Sperling to top economic job
Israel says sees no Iranian atom bomb before 2015
Ivory Coast's Gbagbo expels UK, Canada envoys
Dell unveils Android tablet, smartphone
EU rejects Iran's offer of atomic site tour: Ashton |
Israeli troops kill wrong man in Hamas raid
Model security shows mainstream move of Iraq's Sadr |
Citing deficit, Gates moves to cut US defense budget
'Suicide attack kills 17 at Afghan public bath'
Israeli troops kill wrong man in Hamas raid |
Germany closes 4,700 farms in dioxin scare
Suicide attack kills 17 in southern Afghanistan
US-TECH Summary
Pakistani party to rejoin coalition; reforms deferred |
U.N. refugee agency warns on Greek anti-migrant fence |
Suicide bomber kills 17 in Afghanistan
Samsung profit set to rebound; fights for connected TV
Sony aims for No. 2 spot in tablet devices
Afghanistan suicide blast kills 17 in bathhouse |
LG eyes 4-fold jump in 2011 smartphone sales
Korean, US forces 'lower alert status'
Ghana neutral on Ivory Coast, opposes force: president |
US 'cannot accept' China military power: state media
2 fiery packages put Md. mailrooms on alert
Parents demand answers in China lead poisoning
Vietnam War 'secret army' chief dies in US hospital
Vang Pao, Hmong guerrilla leader, dies in Calif.
Note in fiery Md. package complained of road signs
Pakistani party to rejoin coalition
Meet the new boss: Daley is Obama chief of staff
Malaysia royal commission to probe political death
Police: Gunman suspended before school shooting
Philippine boy survives three days at sea
Jackson dead before paramedics arrived, court told
Disturbing video shows attacks on disabled victims
Laos general Vang Pao dies in California: hospital
ARM says Microsoft needs it for mobile |
Celeb tweets make impact on top stories in 2010
Hyundai Motor preferred bidder for S. Korea builder
Pentagon announces plans to rein in spending
Cubans fret as massive job cuts get under way
Taiwan's exports at 32-year high
Kenya cracks down on out-of-hours drinkers
Pakistan to defer IMF-demanded sales tax-PM Gilani
India, Pakistan in onion trade wrangle
Local.com cuts fourth-quarter outlook |
China eyes deeper German economic ties: report
Indonesia reassures on surging food prices
Taiwan promises swift review of AIG unit sale
Taiwan's new nuclear plant delayed
US banks win approval for China joint ventures
US automaker Ford says China sales hit record in 2010
Harry Potter plagiarism case dismissed in U.S. |
Celeb tweets make impact on top stories in 2010 |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph	VPN on MacOSX	BlogMeter 1.01