India Holds Emergency Meeting To Deal With Price Inflation

manmohan singh india

Prime Minister Manmohan Singh chaired an unannounced meeting with the Cabinet Committee on Prices yesterday, sources tell the Business Standard.

Maybe he’s considering a revision to previous claims that inflation will be down to 5.5 per cent in March from 7.48 per cent in November.

Because recently the prices have just been rising.

The topic of discussion included soaring prices on fruits, eggs, meat, fish, milk, onions and other vegetables. Onions have surged to $1.67 per kilo, which compares unfavorably to the average daily wage of $2.23. Food inflation is now at a 10-month high of 14.44%.

Check out Morgan Stanley’s guide to inflation in the emerging markets >

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