Economy likely to get into deflation by mid-2009
Indian economy is headed towards deflation by mid-2009, HDFC Bank and the Indian subsidiary of the Japanese financial services major Nomura Financial Advisory and Securities (India) have forecast in two separate research reports.
Deflation, the exact opposite of inflation, refers to a persistent fall in prices. It is also known as negative inflation. Deflation raises the purchasing power of consumers but signals a shrinking of economic activities.
Inflation has been consistently on a decline for six weeks. The wholesale price index (WPI) data released on Thursday put the inflation rate at 8 per cent for the week ended November 29.
“Inflation has been falling and we expect it to go down further,” com merce and industry minister Kamal Nath said.
To read the full article, click here...
To read the ePaper, visit: http://e.mydigitalfc.com
Deflation, the exact opposite of inflation, refers to a persistent fall in prices. It is also known as negative inflation. Deflation raises the purchasing power of consumers but signals a shrinking of economic activities.
Inflation has been consistently on a decline for six weeks. The wholesale price index (WPI) data released on Thursday put the inflation rate at 8 per cent for the week ended November 29.
“Inflation has been falling and we expect it to go down further,” com merce and industry minister Kamal Nath said.
To read the full article, click here...
To read the ePaper, visit: http://e.mydigitalfc.com
Labels: deflation by mid-2009, Economy likely to get into deflation by mid-2009, HDFC Bank, INDIAN economy, Indian subsidiary, Industry minister Kamal Nath
posted by PressMart Team at
3:40 PM
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