True to Bernanke tradition(just that it was set yesterday) when the FOMC replaced key phrases in its policy to show the policymaker's economy mirror, we also chose to repeat the WoW headline to reflect the factotum. Detailed data is bein gshred on weekly inflation and the jury is out yet.

There has been considerable public officials' speaking against statistics and the way they work in China and we do not have the same issues in India esp since the PMI has been revised as also the inflation baskets

Greek vote for a Euro 28 billion austerity package notwithstanding no one expect Greece to last and in that similar spirit of the great indian ennui, nothing changes with the details of WoW inflation inrease. Primary articles inflation is 12.68%, Food inflation is 9.13% and there is no visibility for the fuel group yet in the releases, where anyway the calls on Diesel etc are pending and that might even move the urban inflation a wee bit when it does. 

In the meantime this is a beer guzzlers' report and not too technical so we will go back to showing you the money. Which is markets will stay down for some time to come as this week's rumored overall inflation has already jumped to 9.5% and the 10% mark is near. Also no one wants to allow another amusement park on the banks of the Yamuna as importers of the London Eye ride have found in India..indians are a very peculiar creature of comfort, none of their comfort spending translating into luxuries, autos or anything else except food. And the overspending ofn food is well on despite the rising food inflation component which at least the rising interest rates can impact a bit

Wow increases in rate are as high as a 80% rate on the food side and 40% on Primary articles! What gives?

 

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