How economy lost single digit inflation target

The 18-month consecutive fall in inflation rate, had in the last two months, lost momentum in making more significant decline, as food prices, now coupled with assessed harvest failures, worsened outcome. Consequently, the nation’s inflation numbers returned to negative territory, losing 0.09 percentage points to 11.23 per cent in August, from 11.14 per cent in July, an affirmation that the economy is gradually losing its positive positions. But the situation is now heightening speculations on the implications of expected huge election spending, which would soon kick off fully, while festivity-induced inflation later in the year and actual post-harvest losses would aggravate the numbers.
Read more: