India Inc. standing at 5.8% annual rate of inflation- Analysis reports
Inflation in every category has hit the Indian consumer badly in the last two decades. The food inflation is at its all-time high, but inflation in rents has spiked up the most, surpassing the increase in any other consumption category.
A Mint analysis of price trends in major items of household expenditure shows rental and water charges rose 351 % between 1992-93 and 2011-12. That means there was an average annual increase of 7.8% over that period. In the last two decades following economic liberalization, there has been an upward trend of 5.8% of inflation annually on a year on year basis.
It is unbelievable but true that the aggregate inflation in the basket of goods and services consumed was 206%. That means the commodity which was available for Re 1 twenty years back is now available for Rs. 206. Since this is an average figure, it will be difficult to visualize it, however as per the Mint analysis, after rent inflation, food inflation rose the most, increasing by 256% between 1992-93 and 2011-12, at an annual average pace of 6.6%.
Inflation in educational services grew at an annual pace of 6.5% and that in medical services grew by 6.4% annually. Inflation in restaurant and hotel services also grew at an above-average pace of 6.2%. The good news is that the transport and communication sector however saw a below-average rise.
Our phone bills clearly state that they have more or less remained the same in the last decade and the bus and rail fares have increased marginally.
Source- Mint
5.8% annual rate of inflation, Analysis reports, India Inc, India Inc. is hoping to see a surge in the jobs, Inflation, price trends in major items of household
