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When the cost of something becomes far more expensive than its original price.Price rise is a great problem of the day. It is a common phenomenon not only in our country but also in the world. Today the prices of necessary things such as food items, cloths, education materials, medicine and many other necessary things are going up by leaps and bounds. Price rise is caused by several factors like hording, population explosion, low productivity, natural calamities, wars, backwardness of communication, evil motives of dishonest businessmen, smuggling, black marketing etc. If the price rise is caused by the short supply of commodities, it is temporary. But it is very difficult to control the price rise caused by inflation. However, the people of low income suffer greatly and pass there days in constant anxiety. They find it, difficult to make their both ends meet. Price rise has terrible effects on man's character. It leads people to the path of corruption and moral degradation. Lows should be enforced strictly to bring the prices of the essential commodities within the purchasing capacity of the common people
What else can I help you with?
What is the current inflation rate in India and what effects of inflation in India?
Current inflation in India is a bit volatile. However, given different estimated values of commonly understood inflation in India, the Wholesale Price Index for all commodities is 156.8 for the month of October 2011 with a base of 2004-05=100. Inflation is the rate of change over any reference period. So, If we compare the figure with October 2010, the inflation is around 9.5 percent. However, wholesale price index (WPI) is not the only indicator to understand inflation. There are other indicators such as Consumer Price Index (CPI). Even within WPI and CPI there are also divisions for different groups of population. In India, for such subgroups inflation is measured by finding the rate of change in such indices for groups like agricultural labourers, urban non-manual employees, Industrial workers and so on. For a detailed description on inflation in Indian context, one may refer to the link <http://lokkatha.com/150/index.php/economics/55-inflation-a-price-rise-in-essential-commodities-a-consumers-perspective> Inflation & Price Rise in Essential Commodities: A Consumer's Perspective
What is composition of basket of inflation index in India?
In India, a total of 435 commodities data on price level is tracked through WPI which is an indicator of movement in prices of commodities in all trade and transactions. It is also the price index which is available on a weekly basis with the shortest possible time lag only two weeks. The Indian government has taken WPI as an indicator of the rate of inflation in the economy.
Does the price of commodities remain unchanged during the change in demand of those commodities?
Almost certainly not.
What is the bid an ask price in commodities?
"Ask" is the price sellers are asking for their commodity. "Bid" is the price buyers are willing to pay.
How does the government inform and protect consumers?
the government can reduce the taxes on the commodities, it can also use price control that is price cealing
What is praise rise in essential commodities?
because if the price of the commodity increase then the demand will decrease
Minimum support price?
India implements various mechanisms to stabilizes the prices of agricultural commodities. MSP is the most important among them. MSP becomes the floor price and the farmers are assured of getting that price.
What is the current inflation rate in India and what effects of inflation in India?
Current inflation in India is a bit volatile. However, given different estimated values of commonly understood inflation in India, the Wholesale Price Index for all commodities is 156.8 for the month of October 2011 with a base of 2004-05=100. Inflation is the rate of change over any reference period. So, If we compare the figure with October 2010, the inflation is around 9.5 percent. However, wholesale price index (WPI) is not the only indicator to understand inflation. There are other indicators such as Consumer Price Index (CPI). Even within WPI and CPI there are also divisions for different groups of population. In India, for such subgroups inflation is measured by finding the rate of change in such indices for groups like agricultural labourers, urban non-manual employees, Industrial workers and so on. For a detailed description on inflation in Indian context, one may refer to the link <http://lokkatha.com/150/index.php/economics/55-inflation-a-price-rise-in-essential-commodities-a-consumers-perspective> Inflation & Price Rise in Essential Commodities: A Consumer's Perspective
What is a commodity index used for?
A commodity index is something that tracks the price of different commodities. It often uses the average price of commodities, and is designed to encompass all types of commodities such as petrol and metals.
What is composition of basket of inflation index in India?
In India, a total of 435 commodities data on price level is tracked through WPI which is an indicator of movement in prices of commodities in all trade and transactions. It is also the price index which is available on a weekly basis with the shortest possible time lag only two weeks. The Indian government has taken WPI as an indicator of the rate of inflation in the economy.
Does the price of commodities remain unchanged during the change in demand of those commodities?
Almost certainly not.
What is price of commodities?
The price of a commodity simply means the price of goods/stock/items.
What are fair price shops?
Fair Price Shops are distribution channels of Government making available the essential commodities like rice,kerosene, wheat etc., to common man at controlled prices. These shops are maintained to restrict the monopoly practices of traders and check hoarding of essential goods. Fair Price means controlled Price or reasonable price This price is generally lower to that of market price.
Why do you think ration shop could sell commodities at such low prices?
Ration shops are able to sell commodities at low prices because they are subsidized by the government. The government provides them with essential commodities at lower rates, which allows the ration shops to sell them to the public at a subsidized price. This is done to ensure that essential goods are affordable and accessible to all sections of society, especially the economically weaker sections.
What is the bid an ask price in commodities?
"Ask" is the price sellers are asking for their commodity. "Bid" is the price buyers are willing to pay.
Why does meat very in price?
Supply and demand, like most other commodities.
How does the government inform and protect consumers?
the government can reduce the taxes on the commodities, it can also use price control that is price cealing
