Page 15 - Latest Updates on Inflation
Fruit inflation soars: Mangoes up 37%, other summer fruits also affected
Persistent heat and uneven monsoon distribution and a surge in demand have resulted in reduced production of fruits and higher prices
 "Fruit inflation soars: Mangoes up 37%, other summer fruits also affected")
Canada inflation cools more than expected to 2.7% ahead of rate decision
Tuesday's data showed that headline inflation was cooler than the Bank of Canada's 2.9 per cent inflation forecast for the end of the first half of 2024
 "Canada inflation cools more than expected to 2.7% ahead of rate decision")
Consumer price inflation seen up in June due to soaring vegetable prices
Prices of tomatoes, onions, and potatoes - staples in every Indian kitchen - surged by double digits last month as extreme heat, heavy floods in northern states disrupted agricultural production
 "Consumer price inflation seen up in June due to soaring vegetable prices")
Fed officials at last meeting saw price pressures in decline, minutes show
Data released on June 12 showed the CPI had not risen at all in May on a month-to-month basis
 "Fed officials at last meeting saw price pressures in decline, minutes show")
Inflation down in Europe, but ECB in no hurry to cut rates further: Report
But key indicators Tuesday remained at levels that suggest inflation may remain stuck between 2% and 3% for a while yet. Inflation in services prices ran at 4.1%, unchanged from the month before
 "Inflation down in Europe, but ECB in no hurry to cut rates further: Report")
At its lowest level in three years, German inflation eases to 2.5% in June
Economists pay close attention to German inflation data, as the euro zone's biggest economy publishes its figures before the euro zone inflation data release
 "At its lowest level in three years, German inflation eases to 2.5% in June")
Above normal monsoon in 2024 can ease pressure on food prices, says RBI
The report said that in the current economic landscape, several positive factors are contributing to a promising outlook
 "Above normal monsoon in 2024 can ease pressure on food prices, says RBI")
Silver outlook, June 26: Bias bearish; MCX Sept contract support at Rs 88k
Silver outlook and trading strategy today, June 26, 2024: Spot Silver, at the time of the MCX closing, was trading at $28.90, down 2.45 per cent for the day on Tuesday
 "Silver outlook, June 26: Bias bearish; MCX Sept contract support at Rs 88k")
India's inflation also K-shaped; villagers more hurt by price-rise: HSBC
Rural consumers are more impacted by price-rise than their urban counterparts, economists at HSBC said, adding it outstripped the urban segment by 1.1 percentage point in May
 "India's inflation also K-shaped; villagers more hurt by price-rise: HSBC")
Retail inflations for agricultural, rural workers remain almost flat in May
According to the statement, the point-on-point inflation rate based on CPI-AL was recorded at 7.00 per cent in May 2024, showing a deceleration from 7.03 per cent in April this year
 "Retail inflations for agricultural, rural workers remain almost flat in May")
BoE keeps key interest rate at 16-year high of 5.25% despite inflation fall
The Bank of England on Thursday kept its main interest rate at a 16-year high of 5.25 per cent, even though inflation has fallen to its target of 2 per cent.
 "BoE keeps key interest rate at 16-year high of 5.25% despite inflation fall")
Retail sales up 0.1% in May from Apr as still high inflation curbs spending
Excluding gas prices and auto sales, retail sales rose the same amount
 "Retail sales up 0.1% in May from Apr as still high inflation curbs spending")
US retail sales miss expectations in May; April data revised significantly
Inflation and higher interest rates are forcing households to prioritise essentials and cut back on discretionary spending
 "US retail sales miss expectations in May; April data revised significantly")
India must avoid 'adventurism', focus on bringing down inflation: RBI chief
The central bank kept the key repo rate unchanged at 6.5% for an eighth straight policy meeting earlier this month saying robust economic growth will give it space to focus on bringing down inflation
 "India must avoid 'adventurism', focus on bringing down inflation: RBI chief")
More central banks to add to their gold reserves within 12 months: Survey
Demand for gold from central banks has been elevated in the last two years as some countries diversify their foreign currency reserves
 "More central banks to add to their gold reserves within 12 months: Survey")
Stock Market Highlights, June 13: Sensex, Nifty end listless session with minor gains; VIX down 6%
Stock Market Highlights on June 13: The BSE Sensex ended 204 points higher (at 76,811), while the Nifty closed 76 points up (near 23,400)
 "Stock Market Highlights, June 13: Sensex, Nifty end listless session with minor gains; VIX down 6%")
US inflation broadly cools in encouraging sign for Federal Reserve
The so-called core consumer price index - which excludes food and energy costs - climbed 0.2% from April, Bureau of Labor Statistics figures showed
 "US inflation broadly cools in encouraging sign for Federal Reserve")
Fed likely to scale back plans for rate cuts as inflation persists
The Fed's rate policies typically have a significant impact on the costs of mortgages, auto loans, credit card rates and other forms of consumer and business borrowing
 "Fed likely to scale back plans for rate cuts as inflation persists")
Govt bond yields flattish with eyes on inflation data, US Fed guidance
The central bank will auction treasury bills worth Rs 12,000 crore ($1.44 billion) later in the day
 "Govt bond yields flattish with eyes on inflation data, US Fed guidance")
Pakistan cuts benchmark interest rate for first time in four years
The State Bank of Pakistan reduced the target rate by 150 basis points to 20.50 per cent, compared to a median estimate for a 100 basis point cut. Only two economists predicted the decision
 "Pakistan cuts benchmark interest rate for first time in four years")