This year the thing, which pained public most, is inflation. The continuous rising prices of essential commodities, food grains and products, and shining gold had annoyed the general public despite taking several measures by Central Government and Reserve Bank of India.
The Wholesale Price Index continued to remain above 9.5% till end of August and price of essential commodities and food products stole heavy money from the consumers' pockets.
The Price of Gold increased sharply in Multi-Commodity Exchange (MCX) by over 38% as against the price of last year's end. The physical gold too became too shiny for the customers and rose almost 40% in the market. At the end of December, the gold price is expected to hover around Rs.27,700 per 10 grams as against last year's Rs. 20,700 per 10 grams.
The Reserve Bank of India (RBI) continuously raised the Benchmark Prime Lending Rate (BPLR), Cash Reserve Ratio (CRR), and Repo Rate to curb inflation even on as against the development rate, but the inflation could not dip.
The price of realty sectors continued to rocketed and the price of fuels continued to fluctuated, but most of the time went upwards.
The government increased the price of Petrol, Diesel and Compressed Natural Gas (CNG), and cut in the subsidy in Kerosene oil and domestic gas cylinder making more painful situation for the common people.
View 5. Inflation and Gold Price News
