Inflation seen staying uncomfortably high in October (India)

Economic Times ^ | 11/12/2013 | Economic Times

[TexGrill]

NEW DELHI: Inflation is forecast to have risen to uncomfortable levels for policymakers in October due to stubbornly high food prices, adding to the pressure for further interest rate rises despite slowing economic growth.

Data on Tuesday is forecast to show annual consumer inflation at 9.9 percent in October, up slightly from September, and figures on Friday are expected to show wholesale inflation running at an eight-month high of 6.90 percent, according to Reuters polls of economists.

In a more positive sign, factory output is forecast to have risen 3.5 percent in September from a year earlier, much faster than August's 0.6 percent growth.

High consumer inflation, exemplified by a recent hike in onion prices, is a worry for Prime Minister Manmohan Singh's Congress party as it campaigns for five state elections starting in November, a warm up for national elections due by next May.

[TexGrill]

Global business tip

[SunkenCiv]

The depression is nearly as deep as Death Valley, but the well-intentioned irrigation project worked for not very long, as someone quoted/noted above. Unusually high seasonal flooding broke through and filled the newly productive irrigated farmland, and the waters absorbed the agriculture chemicals as well as leaching out various salts and crud in the subsoil. For a long period though Salton Sea was a popular spot for Californian and other SW vacationers.

Eventually the waters stank of fish that succumbed to the contaminants and probably the additional human wastes that somehow or other (koff koff) made it into the lake. If a borehole downhill into the Pacific (Gulf of California) were made, and survived the probable small quakes from the weight shift of the water, over time the Salton would turn into a clean inland saltwater sea, but likely destroying any existing freshwater aquifers in the process.

[SunkenCiv]

Whoops.