There is a strong case for the government to wake up to the need to douse the fire of inflation.
Wholesale fuel and power prices rose 39.81% on the year versus 37.18% in October, while manufactured product prices rose 11.92%, against 12.04% in the prior month.
India’ equity market ended on a strong note last week despite a weak start due to concern of rising cases of omicron variant.
Consumer prices in the US have jumped in October at the fastest rate in three decades. If inflation persists in the US, there is risk of dollar appreciation with adverse consequences for India.