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India Inflation Rose in November to 7.5 Percent

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India’s worrisome inflation rose to 7.52 percent in November, driven by soaring food and fuel prices, data showed Monday. The highest level in more than a year increases pressure on the central bank to raise interest rates this week.

The wholesale price index was up from 7 percent in October. The sharp increase was the highest since September 2012 and was led by food prices jumping by 19.9 percent over the previous November, dashing hopes that favorable monsoon rains would slow the runaway food inflation. Prices for fuel were also up 11.1 percent.

Higher prices for food and fuel hit the hundreds of millions of poor Indians living on $2 per day particularly hard because they spend roughly half of their income on the staple items.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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