 "inflation, shopping, economy")
Data released by the Ministry of Statistics and Programme Implementation last week showed that consumer prices in India jumped 7 per cent in March compared to the previous year. However, India is not the only country facing high levels of inflation. In the US, consumer price inflation has been higher than in India for the last seven months. The reading for March was 8.5 per cent.
Not just the US, even the EU had a higher reading of 7.5 per cent (chart 1). Data shows that producer prices in all these countries/regions are also rising rapidly. Compared to the wholesale price index-based inflation rate of 13.1 per cent in India, the EU’s producer price index-based inflation was 30.6 per cent, whereas
