Inflation:Causes and Impacts - IN NEWS | Drishti IAS English

Drishti IAS brings to you a new programme - In News. This programme will be covering the important news of the day from UPSC exam point of view. In particular, the aim will be to cover the basic as well as more conceptual and analytical aspects of the news being covered in the video.
In today's video, we will analyze the issues with respect to rising Inflation.
The concept of inflation has been discussed along with the current scenario .
We shall discuss about the impacts and causes of inflation and the concerns related to it.
THE NEWS
WHAT IS INFLATION-CURRENT SCENARIO
WHAT HAS BEEN THE REASON
THE IMPACTS
CONCERNS
WHAT ARE THE HOPES
QUESTION
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#InflationinIndia #DrishtiIasInNews

[@charupathak5397]

The 8 core industries are 1.Coal 2.Crude oil 3.Natural Gas 4.Refinary Product 5.Fertilizers 6.Steel 7.Cement and 8.Electricity

[@simransimran6180]

Tq so much mam .....I was jst thinking that ;I could be able to learn this topic from u bcoz it is very important topic...u make it so simple in ur way ...thnks a lot

[@DrishtiIASEnglish]

Glad to hear that Simran, Hope you are doing Well ! Stay Connected for more such videos and updates...

[@Sumitshort112]

Thank you so much mam

[@Sumitshort112]

Both statement are correct mam

[@shortmind1772]

Good information and upload tips and tricks

[@adityabirla1224]

Thank you very much ma'am 😊 8 core sectors are - Cement, Coal, Crude Oil, Electricity, Fertilizer, Natural Gas, Refinery Products, and Steel. Prelims Question - The Answer is Option C. Both are correct.

[@sovikdas8708]

Refinery product ,Electricity , steel ,coal , crude oil , natural gas , cement , Fertilizer

[@generalknowledgetutorialspoint]

Thank you so much all drishti members! Aption (B)

[@ashendrapatel7278]

i was not getting the impact of inflation , but you made it so simple , thank u mam and team drishti

[@DrishtiIASEnglish]

Glad to hear that Ashendra Patel, Hope you are doing well !

[@raghavanil9145]

Option B

[@sreedharbijjala331]

Thank you very much pooja sister.ur explaination and motivation very useful to me.🙏🙏🙏🙏

[@DrishtiIASEnglish]

Glad to hear that! Sreedhar Bijjala, Hope you are doing good! Stay Connected for more such videos and updates..

[@pallavijangid8118]

Option B...

[@rishirishiyadav2991]

Option b

[@mdmustak9468]

Explained very well... thank you Ma'am..!!

[@DrishtiIASEnglish]

Glad to hear that! Mustak, Hope you are doing well!

[@vikashmandal1020]

Thank U Dear Ma'am ji 😊

[@DrishtiIASEnglish]

Glad you liked it! Vikash ! Hope you are doing well!

[@krishnamohanv.2641]

Pl. control Wholesale price inflation which surged to new high of 15.9% in May,22. This is the 14th month in a row that wholesale price inflation in India has stayed above the 10% mark. The Wholesale Price Index for this March was also revised upwards, reflecting an inflation rate of 14.63% instead of the 14.5% earlier estimated. Inflation in India’s wholesale prices hit a fresh record high of 15.88% in May, escalating from 15.08% in April, as per official data released on 14/06/22. May 2021 had recorded an inflation rate of 13.11%. Fuel and power inflation accelerated further to 40.62% in May from 31.8% in March and 38.7% in April. The Wholesale Food Price Inflation, which had eased marginally in April to 8.9% from 9.3% in March, resurged to hit 10.9% in May. Further uptick in wholesale price inflation could warrant greater circumspection from the monetary policy perspective, as producers will eventually pass on higher costs to consumers. May’s ‘inordinately high’ wholesale inflation is signalling continued upward pressure on consumer price inflation in the next few months, cautioned D.K. Srivastava, chief policy advisor at EY India. Inflation in primary articles also gained momentum, rising from 15.45% in April to 19.71% in May. LPG (liquefied petroleum gas) inflation shot up from 38.5% in April to 47.7% in May. “The high rate of inflation in May is primarily due to rise in prices of mineral oils, crude petroleum & natural gas, food articles, basic metals, non-food articles, chemicals & chemical products and food products compared to the previous year,” the Commerce and Industry Ministry said. CARE Ratings’ chief economist Rajani Sinha attributed the record wholesale inflation to the spike in food and energy prices. “Vegetables and cereals prices surged and have pushed up primary food inflation, while elevated crude oil prices, LPG price hikes and electricity tariff revisions contributed to the rise in fuel and power inflation,” she said. The Wholesale Price Index (WPI) for this March was also revised upwards, reflecting an inflation rate of 14.63% instead of the 14.5% earlier estimated by the Office of the Economic Adviser, Department for Promotion of Industry and Internal Trade. “The rise in global crude oil prices is expected to put upward pressure on the headline WPI print for June 2022, even as the weakening of the Rupee is likely to augment the landed cost of imports. Consequently, we expect the wholesale price inflation to remain elevated at ~15%-16% in June,” chief economist, ICRA, Aditi Nayar said. The weakening currency and stiffer crude prices transmit faster into wholesale prices, she noted. May's inflation, which Ms. Nayar reckoned was the highest since September 1991, was led by a surge in primary food articles, particularly vegetables and eggs, meat and fish, on account of rising costs of inputs such as fodder.

[@jainsakshimodi1026]

Thanks a lot Pooja ma'am

[@DrishtiIASEnglish]

Most welcome 😊

[@namansinghstudypoint1197]

Thanks ma,m for si nice session.

[@DrishtiIASEnglish]

Glad you liked it! Naman Singh, Hope you are doing well !

[@ishanshekhar7271]

Best regards ma'am

[@divyanshupratikhsingh1698]

B is correct

[@eduedge2596]

Maza aa gya thnks ma'am

[@DrishtiIASEnglish]

We are glad that you liked it! Edu Edge...

[@ashrafdar8152]

G8👍👍

[@radhikasasidharan8918]

B

[@dhupamsivanagaraja4223]

Hello

[@rssony107]

Good morning

[@rssony107]

Inflation

[@DrishtiIASEnglish]

Good morning Rs Sony! Have a great Day Ahead!

[@rssony107]

How are you madam

[@rssony107]

How you collected this information

[@puneetsharma3443]

B option

[@shashwatrai7505]

A

[@shwetakumari828]

Option B

[@Chandrakant_yadv]

B

[@chithirakp221]

Option B