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With the country’s weekly food inflation at seven-week low of 7.61% for the week ended June 25 on the back of cheaper vegetables, pulses and potatoes. In the previous week it was 7.78%. Finance Minister Pranab Mukherjee said, "There is inflationary pressure in the system and these weekly variations (in food inflation numbers) are mainly because of base effect.”
However, weekly food inflation is showing signs of moderation, according to the government data released on July 7, food inflation reduced to 7.61% for the week ended June 25. For the week ended June 25, on an annual basis, all the three items i.e. food items, non-food primary articles and fuel & power saw a marginal plunge, however, fuel index increased by 3.8% or 6.1 points to 166.3 from 160.2. On this, Finance Minister said 'This six points increase in mainly because of enhancement of prices of diesel, kerosene and LPG. That has its impact.'
He further said the overall inflation in June could see some upward movement, from 9.06% recorded in May. As per the government data, pulses became over 9% cheaper year-on-year during the period under review. Prices of vegetables also came down by 8.74%, while potatoes became 2.13% cheaper on an annual basis. However, prices of other food items remained high during the week.
The latest numbers on the rate of price rise of food items are the lowest since the week ended May 7, when food inflation stood at 7.47%. Headline inflation in the country stood at 9.06% in May. The overall inflation for the month of June is expected to rise further because of the government’s price hike of diesel and other petroleum products which account for more than 5.5% of WPI. Last month government hiked the prices of diesel, kerosene and domestic cooking gas by Rs 3/litre, Rs 2/litre and Rs 50 per cylinder. However, the hike in prices of diesel, cooking gas and kerosene announced on June 24 by the government is yet to be reflected in these numbers.
Finance Minister had on July 6 cautioned against the "suppressed component" of inflation. "There is a significant suppressed component of inflation as the increase in international crude oil prices has not been passed on completely despite increase in domestic administered oil prices effected in June, 2010, and June, 2011," he said.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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