India’s food price index has accelerated in mid-October. The country’s food price index rose 11.43% in the period to 15 October. The previous week it climbed 10.60%.Vegetables drove the latest speed-up, with a rise of 25%. Fruits went up by 12% and other items like eggs meat and fish climbed nearly 13%. The new food inflation figures come just days after the Reserve Bank hiked policy rates by 25 basis points.
On the bright side, fuel inflation has eased during the same period. The fuel price index rose 14.7% in the week to the 15th. The previous week it stood at 15.17%.
India’s richest people have become poorer. The new Forbes India Rich List is out and it estimates the combined wealth of the country’s top hundred rich fell 20% this year. Still, the pecking order is much the same. Mukesh Ambani tops the list with a net worth of $ %22.6 billion, a fall of $4.4 billion. Lakshmi Mittal comes next with $19.2 billion to his name. And Wipro chairman Azim Premji is in third place with $13 billion. The richest woman is Savitri Jindal, with $9.5 billion in assets and a rank of number five. This year’s list of one hundred tycoons has a mere 57 billionaires compared to 69 in 2010. India’s wealthy have been hit by stock market losses, the weakening of the rupee, and of course, inflation.