Page 23 - Latest Updates on Inflation
Inflation needs to align with target by 2nd quarter: RBI monthly bulletin
Report says priority for FY25 is to sustain growth momentum of at least 7%
 "Inflation needs to align with target by 2nd quarter: RBI monthly bulletin")
US import prices unchanged in December after two straight monthly decreases
Since March 2022, the Fed has raised its policy rate by 525 basis points to the current 5.25%-5.50% range
 "US import prices unchanged in December after two straight monthly decreases")
Economy likely to grow 7% in 2024-25, inflation to ease further: RBI Guv
He also credited the government for structural reforms undertaken in recent years, saying they have boosted the medium and long-term growth prospects of the Indian economy
 "Economy likely to grow 7% in 2024-25, inflation to ease further: RBI Guv")
Rates to stay higher, battle against inflation not yet over: IMF's Gopinath
Speaking at a session during the World Economic Forum Annual Meeting 2024 here, Gopinath dismissed the market bets for a cut in interest rates as premature
 "Rates to stay higher, battle against inflation not yet over: IMF's Gopinath")
Real, nominal GDP growth, inflation play out differently this time around
This happened because inflation, as viewed by GDP deflators, is expected to be quite lower than initially projected for first time, contrary to what had happened ahead of 3 previous interim Budgets
 "Real, nominal GDP growth, inflation play out differently this time around")
Nine states record higher inflation than India average, shows data
While the average Indian consumer's cost of living rose by 5.69 per cent compared to the previous year, it rose 8.73 per cent in Odisha, 7.07 per cent in Gujarat and 6.95 per cent in Rajasthan
 "Nine states record higher inflation than India average, shows data")
US consumer prices up more than expected in Dec, weekly jobless claims fall
The consumer price index (CPI) rose 0.3% last month after nudging up 0.1% in November, the Labor Department's Bureau of Labor Statistics said on Thursday
 "US consumer prices up more than expected in Dec, weekly jobless claims fall")
US small business sentiment up; labour, inflation worries persist
A net negative 25% of businesses reported improved profits in December, a 7 point increase from the month prior, with labor costs continuing to weigh on earnings, the report said
 "US small business sentiment up; labour, inflation worries persist")
UK economy to hit 2% inflation target by spring in upgraded outlook
A 1% cut in the basic rate of income tax in April would add another £4 billion this year, and a halving of the inheritance tax rate to 20% would be worth close to £1 billion more for 2024
 "UK economy to hit 2% inflation target by spring in upgraded outlook")
Inflation's pulse: Yellow peas imports to help potential chickpea shortfall
Advancements in pulses technology and its widespread adoption across India could help achieve self-sufficiency. For now, though, the hope is that matar will address the inflation matter
 "Inflation's pulse: Yellow peas imports to help potential chickpea shortfall")
Central theme of '24: Fight with inflation for growth
A rate cut will happen this year. When? It will depend on the growth-inflation dynamics as well as the US Fed action
 "Central theme of '24: Fight with inflation for growth")
India to be fastest-growing economy in 2024 after withstanding headwinds
The growth momentum is expected to sustain in the December quarter, making India the fastest-growing major economy in the world much ahead of China
 "India to be fastest-growing economy in 2024 after withstanding headwinds")
Rahul Gandhi, Kharge identify unemployment, inflation as key problems
Cong picked Nagpur to mark its foundation day and launch its LS campaign, 'Hum Tayyar Hain', given the city's salience in shaping the ideological contours of the last hundred years of Indian politics
 "Rahul Gandhi, Kharge identify unemployment, inflation as key problems")
Rate impact, inflation decline: Axis MF forecasts 2024 as year of contrast
Citing the recent state election results, the note stated that the risks from the general election are low
 "Rate impact, inflation decline: Axis MF forecasts 2024 as year of contrast")
Centre extends import duty exemption on tur, urad dal to March 2025
Prices of pulses have seen an inflation of 20 per cent in November. Recently, the Centre had also extended the import duty exemption for masur dal by one year to March 2025
 "Centre extends import duty exemption on tur, urad dal to March 2025")
Govt hopeful of 'bountiful harvest' amid food inflation headwinds
Besides, the government subsidised the sale of a few commodities to improve domestic supply and arrest the sharp spikes in retail prices of wheat, rice, edible oils, pulses, tomato, and onion
 "Govt hopeful of 'bountiful harvest' amid food inflation headwinds")
Consumers find relief from boiling oil prices in 2023 even after CPI rises
According to data by Bizom, prices of edible oils ranged from a fall of 13.3 per cent to 30.2 per cent in November this year compared to last year
 "Consumers find relief from boiling oil prices in 2023 even after CPI rises")
Inflation to ease to 4.6% in the first three quarters of 2024-25: RBI
The RBI bulletin released on Wednesday said that global growth continues to remain fragile and may slow down further in 2024
 "Inflation to ease to 4.6% in the first three quarters of 2024-25: RBI")
India tops remittances table with $125 bn inflows: World Bank report
Inflation declining and strong labour markets in high-income source countries boosted transfers by highly skilled Indians, it says
 "India tops remittances table with $125 bn inflows: World Bank report")
WPI inflation in Nov at 0.26%, returns to positive territory after 7 months
The rise in WPI inflation was led by food inflation. The index in this category rose steeply by 4.69% in November as compared to 1.07% in October
 "WPI inflation in Nov at 0.26%, returns to positive territory after 7 months")