7% based on what? You say last year it was 6.54%. 6.54% of what?
Is there a constant base on which this is calculated or is it a changing base. It appears it is a changing base, usually Y2Y. But how then are you comparing inflation today with inflation last year on the same day. 7% means that prices have increased 7% from last year. How does it matter if it was 6.54% last year?
The fact of the matter is that things are slowly becoming expensive in India even for the middle class to survive on. Think about the poor. Why can't the govt follow simple policies and keep necessary things cheap and others relatively?
Why can't the govt abolish indirect taxes where a billionaire pays the same as a BPL person? These are the things hitting the poor more.
Inflation numbers in INdia are calculated based on WPI (wholesale price index). As the name suggest since its an index, its not calculated like YoY, as all index it has a base year may be 2000/02 though am not sure abt the base year and the scale is set at 100. Plus the index constitute lot of goods from different food products (cereals, pulses, fruits, fish to oils etc. to minerals and each of them are given weights in Index, e.g. Rice has weight of 2.4491 out of 100. When prices of these goods goes up compared to the base price which is fixed at 100, they say it goes up and vice versa. So unlike YoY or QoQ, its compared to base year. Hope if nt all certain things are clear now.
