India’s headline inflation has eased considerably in August. The wholesale price index for the month stood at 8.5%. But that’s not really comparable to older numbers. The figures released on Tuesday were calculated based on a new series of data. These include a new base year of 2004-05 instead of the earlier 1993-94. Also changed are the weights given to manufactured goods, primary articles, and fuel. The government says the modifications will help better reflect changing consumer habits in the country.
Going by the old data, headline inflation for August was 9.5%. In July, it stood slightly higher at 9.8%. Tuesday’s figures come just a couple of days before the RBI meets to discuss rate hikes.
The world’s biggest mobile phone maker has launched three new smart phones. On Tuesday Nokia unveiled the E7, a new version of the C6, and the new C7. The new models are seen as part of Nokia’s efforts to win back market share in the smart phone segment. While it still controls 40% of that market, Nokia has been losing out to Apple and BlackBerry phones in recent times.