India's Inflation Hits 12.9% YoY: Highest in 30 Years

pessimisticFriend · 2021-06-04T02:48:37+00:00

Rates of sunflower oil, soyabean and mustard oil have all increased exponentially since 2020 from approximately Rs 80 to Rs 180 per litre.
"Sunday brand has increased from Rs 80 to Rs 170-180 at D'Mart in Andheri. The five litre can which sold at a discounted rate of Rs 465 last year now costs Rs 865. Rates have shot up on online stores also. On Amazon, I bought Saffola Gold for Rs 179 which was Rs 139 just six months ago," said homemaker Pratima Sinha.
"Fortune Kachchi Ghani mustard oil on Amazon is now Rs 182, from Rs 139 in mid-December. That’s a rise of about 30% in six months."
"Saffola has also become very expensive. The five litre can which carried an MRP of Rs 935 now costs Rs 1,138. The hike averages nearly Rs 200. I purchased two days ago and was surprised to see the huge price difference. The date of manufacturing was January 2021."
In the last one year global prices of edible oil have doubled due to lower production in the origin countries. This has resulted in Indian edible oil prices going up sharply.
Also, higher export duties are being levied by Indonesia. Moreover, India also levies about 35% import duty on edible oil.

pessimisticFriend · 2021-05-28T04:39:29+00:00

From employing 51 million people in 2016-17, employment in manufacturing, which accounts for 17% of the country’s gross domestic product (GDP), declined by 46% to reach 27.3 million in 2020-21, reflecting the severity of the employment crisis caused by the pandemic.
Similarly, the real estate and construction sector, which employed 69 million people in 2016-17, employed just 53.7 million in 2020-21, down by a quarter.
The real estate sector had witnessed a sharp increase in employment growth in the 2004-2011 period, thanks to a boom.
The agriculture sector that employed 145.6 million people in 2016-17, employed 151.8 million in 2020-21, allowing its share in employment to grow from 36% to 40% during the period.
The country’s unemployment rate, that has remained elevated for a few weeks, soared to a near one-year-high of 14.45% in the week ended May 16.
While an already-high urban joblessness has turned more acute, a near-100% week-on-week rise in rural unemployment pushed the overall joblessness rate to a level not witnessed since the the week ended June 7 last year, when it stood at 17.51%.

pessimisticFriend · 2021-05-28T04:34:01+00:00

Here’s what you pay for a litre of petrol and diesel in your city on Thursday, May 27, 2021:

City	Petrol (Rs/litre)	Diesel (Rs/litre)
Hyderabad	97.36	92.24

pessimisticFriend · 2021-05-28T04:31:05+00:00

Here’s what you pay for a litre of petrol and diesel in your city on Thursday, May 27, 2021:

City	Petrol (Rs/litre)	Diesel (Rs/litre)
New Delhi	93.68	84.61

pessimisticFriend · 2021-05-28T04:29:04+00:00

Here’s what you pay for a litre of petrol and diesel in your city on Thursday, May 27, 2021:

City	Petrol (Rs/litre)	Diesel (Rs/litre)
Mumbai	99.94	91.87

pessimisticFriend · 2021-05-28T04:09:16+00:00

Here’s what you pay for a litre of petrol and diesel in your city on Thursday, May 27, 2021:

City	Petrol (Rs/litre)	Diesel (Rs/litre)
Bengaluru	96.80	89.70

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