Inflation is something that no one likes. In India, most people are poor and inflation is never good for them. In fact, it is not good for anyone. Millions of people in India are poor and they often struggle to get 3 decent meals a day. Now, inflation rate has broken all the records of last few years.
AFP wrote:
Annual inflation climbed more than two-tenths of a percentage point to 7.83 percent for the week ended May 3 from 7.61 percent the previous week, according to the Wholesale Price Index, India's closest watched cost monitor.
The rise, which exceeded analysts' expectations of around 7.5 percent, was mainly due to price increases of staple foods like fruits and vegetables and manufactured goods.
Rising oil price in the international market is also a big factor in this regard. When the price of fuel increases then it affects everything. India imports most of its fuel from the international market. It is sad to see that the price of food commodities is increasing. This will bring suffering for the poor people.
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