Indian food inflation at 70% per year - stagflation precedes depression just like the US economy
Babu Ghanta
Jul. 30, 2009

Just in one week food prices are up 1.2% with skyrocketing vegetable prices, zooming fish, meet, and egg prices. On top of that transportation costs are moving up rapidly.

The vegetable prices are rapidly rising inspite of genetic cloning of vegetables. The transportation costs are rising so rapidly that the common people are losing hope. The meat price, egg price and edible oil price is zooming fast.

Interestingly, Governmnet data is reporting that overall inflation is down and remains close to zero. That means stagfaltion is happening in India. The salary pf people are stagnant. But prices are going up. US and Japanese economies went through stagflation for many years before depression took control. India faces the same problem.

The maximum increase was seen in the wholesale price of vegetables, which rose by 4.9 per cent, followed by pulses that went up by 4.2 per cent and meat/egg/fish rose by 3.5 per cent in just one week, according to official data.

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