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The annual inflation rate in India was recorded at 6.95% in 2023. Historically, from 1960 until 2023, the annual inflation rate in India averaged 7.37% reaching an all-time high of 28.60% in 1974 and a record low of -7.63% in 1976. The inflation rate for Primary Articles is currently at 9.8% (as of 2012).
2010 Indian onion crisis. The Indian onion crisis of 2010 involved the dramatic rise in the cost of onions across markets in India. The crisis was caused by errant rainfall in the onion producing regions which led to a shortage of onion production. The crisis caused political tension in the country and was described as "a grave concern" by then ...
Drastic price increases and possible causes. Between 2006 and 2008 average world prices for rice rose by 217%, wheat by 136%, corn by 125% and soybeans by 107%. [ 13] In late April 2008 rice prices hit 24 cents (US) per US pound, more than doubling the price in just seven months.
Asset price inflation is an undue increase in the prices of real assets, such as real estate. In some cases, the measures are meant to be more humorous or to reflect a single place. This includes: The Christmas Price Index, which calculates the cost of the items mentioned in a song, "The Twelve Days of Christmas". [51]
A consumer price index ( CPI) is a price index, the price of a weighted average market basket of consumer goods and services purchased by households. Changes in measured CPI track changes in prices over time. [ 1] The CPI is calculated by using a representative basket of goods and services. The basket is updated periodically to reflect changes ...
India is the world's second largest arms importer; between 2016 and 2020, it accounted for 9.5% of the total global arms imports. [269] India exported military hardware worth ₹ 159.2 billion (US$1.9 billion) in the financial year 2022–23, the highest ever and a notable tenfold increase since 2016–17. [270]
This lifting of price controls resulted in a rapid increase in prices. Price freezes were re-established five months later. [28] Stagflation was eventually ended in the United States when the Federal Reserve under chairman Paul Volcker raised interest rates to unusually high levels. This successfully ended high inflation but caused a recession ...
A global financial crisis, combined with protectionist policies adopted by the colonial government resulted in a rapid increase in the price of commodities in British India. During the period 1929–1937, exports and imports in India fell drastically, crippling seaborne international trade in the region; the Indian railway and agricultural ...