but it is a "feature" of indian retail that prices never come down, they only go up. they stick at the high-water mark.
btw, has anybody followed up on the promise the UPA made when they introduced a VAT? they said "eventually prices of all these items will come down". in fact, they haven't. the average consumer is just paying more tax to the government, that's it.
of course, there need to be more taxes to pay for the haj subsidies and for chidambaram's swiss accounts and for samuel reddy's pilgrimages to the bleeding desert. it is only logical that the average hindu should pay for all this.
---------- Forwarded message ----------
From: Shahryar
From: Shahryar
| Indian inflation turns negative Inflation in India has turned negative for the first time in more than 30 years, official figures have shown. Wholesale prices fell 1.61% in the year to 6 June, compared with a rise of 0.13% the previous week, the Ministry of Commerce and Industry said. Cheaper food prices dragged the index down, and analysts said prices could continue falling for about four months. It marks the first annual decline in wholesale prices since the government started releasing weekly data in 1977. "We will have negative numbers at least till September, primarily because inflation had picked up very sharply during this period last year," said Sonal Verma, an economist at Nomura. Inflation hit a 13-year high of 12.9% in August 2008, but has been decelerating steadily since. Story from BBC NEWS: http://news.bbc.co.uk/1/hi/business/8106534.stm |
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