The first data of 2011 is out – Data for Jan 1, 2011 shows Primary Articles at 17.58%.
As usual, the revisions of past data are huge.
The monthly data is due tomorrow. 17.58% may look better, and there is some respite in the graph to the steepness of the last few weeks. But there is a base effect – a spike in the first week of 2010. Next week, even that won’t be available – in fact it flattens for the next few weeks.
The Finance Minister says don’t worry boss, we will control inflation. Yes, really. We’re not really sure how, but certain people can manipulate prices up, they can manipulate prices down also and announce that achievement to people so we can forgive them for all the scams. Not saying the government is involved, of course, because nowadays they put you in jail for sedition it seems.
Previous Inflation Posts:
- Dec 31, 2010: Primary Articles Inflation Spikes to 17.24% and Why it is important.
- Dec 16, 2010: RBI Keeps Rates Unchanged; Liquidity Tight
- Dec 09, 2010: PA WPI Inflation: 12.66%. Big Past Revisions Continue
- Dec 02 2010: Inflation: Primary Articles at 12.72%, and a HUGE past revision
