Fabrication of numbers

The current inflation rate for the United States is 2.4% for the 12 months ended March 2017, as published on April 14, 2017 by the U  s. Labor Department.

The current inflation rate for China is 1.08% for the 12 months ended March 2017.

The current inflation rate for Russia is 4.59% for the 12 months ended February 2017.

The current inflation rate for Germany is 1.58% for the 12 months ended March 2017.

The current inflation rate for Japan is 0.20% for the 12 months ended February 2017.

The current inflation rate for Finland is 0.83% for the 12 months ended March 2017.

The current inflation rate for Canada is 2.05% for the 12 months ended February 2017.

The current inflation rate for Norway is 2.44% for the 12 months ended March 2017.

The current inflation rate for Great Britain is 2.30% for the 12 months ended March 2017.

The current inflation rate for Brazil is 4.57% for the 12 months ended March 2017.

The current inflation rate for India is 2.62% for 12 months ended February 2017.

Inflation rate for India (monthly basis) is showing such as January 2017-February 2017 is 0.00%, December 2016-January 2017 is -0.36%, November 2016-December 2016 is -0.72%, October 2016-November 2016 is -0.36%, September 2016-October 2016 is 0.34%, August 2016-September 2016 is -0.36%, July 2016-August 2016 is -0.71%, June 2016-July 2016 is 1.08%, May 2016-June 2016 is 0.73%, April 2016-May 2016 is 1.48%, March 2016-April 2016 is 1.12%, February 2016-March 2016 is 0.37%.

In india, Consumer Price Index (CPI) and Wholesale Price Index (WPI) are two major indices for measuring inflation. In United States, CPI and PPI (Producer Price Index) are two major indices. 

There are total 676 items in WPI and inflation is computed taking 5482 price quotation. These items are divided into three broad categories viz. (1) Primary Articles, (2) Fuel & Power and (3) Manufactured Products. The number of items in CPI basket include 448 in rural and 460 in urban and categorized in 6 groups.

In India, RBI uses CPI (combined) released by Central Statistics Office (CSO) for inflation purpose.

On this context of low inflation rate in India the adverse question is, why is the farmers of Tamil Nadu protesting against rats, grass in the mouth to waive up the farming loan? Even they are saying that if P. M.will not accept their demands they went to eat their faeces and urine.

Economists will say that there is no relation regarding farmers protest to inflation. CPI data is collected by holding retail sales prices and taxes. In the open market, the rice to buy is Rs.38 per kilogram. Retailers do not pay any taxes for rice sales. In the case of retail vegetable vendors, fish vendors, meat shoppers or local groceries, they also do not pay any taxes. Organized retailers pay tax. For example, various shopping malls. In reality it is seen that there is a great difference between the price of ordinary people who buy commodities at the CSO’s data. One more thing that needs to be mentioned is that WPI data is voluntary, error is not known exactly. So, the inflation rate of India which is declared officially, ordinary people does not acknowledge it seems right.

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