Vikas Rikhye

Vikas Rikhye , India Real Estate Blogger

India’s inflation rate has more than doubled in the past four months amid soaring commodity and food prices, India’s inflation rate was 7.14 percent in the week ended April 5 from a year earlier, after gaining 7.57 percent in the previous week, according to the source economists had expected a 7.23 percent increase.

Since the wholesale price index (WPL) based inflation rate has shot-up unexpected heights in last few weeks, therefore , authorities have taken series of fiscal & monetary steps.

The Government has banned export of certain basic items like rice & lentils and also reduced the Custom duty on the import of commodities influencing inflation.

India’s monsoon rains are expected to be sufficient this year for farmers to plant rice, wheat and oilseeds, There may be some relief from rising prices if the monsoon forecast is borne out.

The authorities feel the measure may take a while to have an effect on prices therefore, “Don’t expect miracles, must be patient” , “It will have a moderating impact on prices. It will take some time.”