Inflation at 11.07% vs. 11.44%
Lower prices of food and non-food items pushed down inflation to 11.07 per cent for the week ended October 11, from 11.44 per cent a week ago.
Inflation measured by movement in the Wholesale Price Index was 3.07 per cent a year ago.
Among food articles, the prices of fruits and vegetables and eggs declined during the week. In the non-food category, sunflower and raw cotton became cheaper.
The index of fuel group too declined marginally by 0.1 per cent on account of lower prices of furnace oil.
Rupee slips to a new low!
The Indian rupee continued its slide and hit a new record low of 49.85 against the US dollar in morning trade on Thursday on sustained buying in the greenback amid renewed fears of a global recession.
The Indian currency fell by 55 paise from its overnight close partly because of absence of any intervention by the central bank.
Argentina stocks sink
Argentine stocks plunged more than 10 per cent as police raided the offices of the 10 private pension funds the government plans to nationalize.
The Buenos Aires bourse's main index closed down 10.1 per cent to 940.82 points on Wednesday, adding to 11 per cent losses on Tuesday. Stocks in Spain with close business ties to Argentina, also plummeted.
No comments:
Post a Comment