December 14, 2023
1 min read

India’s November Inflation at 5.6%

Russia and South Africa have higher inflation rate of 7.5 per cent and 5.9 per cent, respectively, ahead of India…reports Asian Lite News

Inflation in India at 5.6 per cent for November is higher than most other nations, the Bank of Baroda said in a report.

According to the report, the inflation in India is likely to remain high even in December due to higher food prices but the comfort is the stable core inflation numbers for the past few months which is more susceptible to demand side forces and, in turn, can be controlled by monetary policy. However, food inflation is driven more by supply side pressures where shortfalls in production do manifest in higher prices.

Compared to most other countries, inflation in India is does appear to be on the higher side at 5.6 per cent excluding Argentina and Turkey due to their extreme inflation numbers of 143 per cent and 62 per cent, respectively, the report notes.

Russia and South Africa have higher inflation rate of 7.5 per cent and 5.9 per cent, respectively, ahead of India.

India is followed by Australia with an inflation rate of 5.4 per cent, Singapore and Brazil – 4.7 per cent, UK – 4.6 per cent, Mexico – 4.3 per cent, Japan and South Korea – 3.3 per cent, Canada and the US – 3.3 per cent, Indonesia – 2.9 per cent, Euro Area – 2.4 per cent, Saudi Arabia – 1.6 per cent, Switzerland – 1.4 per cent and China – minus 0.5 per cent, Bank of Baroda said.

“It should be pointed out that inflation in India has been volatile as it is driven by food prices and hence shown differing tendencies every month,” the report notes.

ALSO READ-Goyal, EFTA Delegation Review Progress in Trade Talks

Previous Story

Suryakumar Yadav Dominates as No.1 Batsman

Next Story

HTX Sees $258M Net Outflow Amidst Hacks

Latest from India News

Khawaja Asif: Peace Only If India Backs Down

The Indian strikes and Islamabad’s retaliation has jolted locals who fear that it could potentially lead to a full-scale war between the two countries…reports Asian Lite Ndews Pakistan’s Defence Minister Khawaja Asif

India Rising, Pakistan Crumbling

Pakistan is on the verge of economic collapse and is surviving on IMF loans, with its forex reserves down to $15 billion…reports Asian Lite News While Pakistan has threatened to respond forcefully

Israel backs India’s ‘Operation Sindoor’

The military operation struck camps and logistical hubs linked to terror groups held responsible for orchestrating the Pahalgam attack…reports Asian Lite News Israel has voiced strong support for India’s right to defend

70 Terrorists Killed in Indian Retaliation

The targets were selected based on “credible intelligence input” and focused on “dismantling terrorist infrastructure and disabling terrorists…reports Asian Lite News In a powerful response to the April 22 terror attack in
Go toTop

Don't Miss

India Issues Job Advisory for Laos, Cambodia

The advisory outlines significant risks associated with fraudulent job offers

Indian Community in Moscow Eager to Welcome PM Modi

PM Modi will be on a two-day official visit to