Page 31 - Latest Updates on Inflation
UK headline inflation rate easing but sugar, rent, insurance surging
fficial statistics showed the Consumer Prices Index slid to 6.8% last month from a four decade peak of 11.1% late last year
 "UK headline inflation rate easing but sugar, rent, insurance surging")
UK inflation cools as expected in July but services surprise to upside
Despite the drop, Britain retains one of the highest rates of price growth in Western Europe, with only Iceland and Austria suffering higher inflation in July
 "UK inflation cools as expected in July but services surprise to upside")
UK wages grow at a record pace, fuelling Bank of England's inflation worry
The figures are the first of two batches of economic data that will guide the BOE's next rate decision on September 21
 "UK wages grow at a record pace, fuelling Bank of England's inflation worry")
India's services exports see 12% growth at $27.17 billion in July
The trade deficit narrowed to $20.67 billion in July from $25.45 billion a year ago but widened from $18.76 billion in June
 "India's services exports see 12% growth at $27.17 billion in July")
CPI-based inflation surges to 7.44% in July on 11.51% retail food inflation
CPI inflation: This is the highest retail inflation since April 2022 when it was recorded at 7.79 per cent
 "CPI-based inflation surges to 7.44% in July on 11.51% retail food inflation")
July WPI-based inflation comes at -1.36% as food prices skyrocket
WPI inflation in primary articles was considerably higher at 7.57 per cent as compared to July last year
 "July WPI-based inflation comes at -1.36% as food prices skyrocket")
Inflation, FII data to drive Market in holiday-shortened week: Analysts
On the macroeconomic front, wholesale and retail inflation numbers for July would be announced on Monday
 "Inflation, FII data to drive Market in holiday-shortened week: Analysts")
Sensex down for 2nd day, dips 365 pts; Nifty near 19,400; all but PSBs fall
CLOSING BELL ON AUGUST 11, 2023: 14 out of the Sensex 30 stocks declined over a per cent each, while HCL Tech gained 3 per cent on Friday.
 "Sensex down for 2nd day, dips 365 pts; Nifty near 19,400; all but PSBs fall")
RBI move focused on taming inflation, supporting growth: Industry groups
RBI has kept the policy rate unchanged at 6.5 per cent
 "RBI move focused on taming inflation, supporting growth: Industry groups")
Sensex ends 308 pts lower post RBI policy, Nifty near 19,550; Zee zooms 20%
CLOSING BELL ON AUGUST 10, 2023: Private bank and select auto stocks ended with notable losses after the RBI on Thursday asked banks to maintain Incremental Cash Reserve Ratio (ICRR) at 10 per cent.
 "Sensex ends 308 pts lower post RBI policy, Nifty near 19,550; Zee zooms 20%")
India starts importing tomatoes from Nepal amid record spike in prices
The first lot of imports are likely to reach by Friday in Varanasi, Lucknow and Kanpur cities in northern India, Finance Minister Nirmala Sitharaman told the parliament
 "India starts importing tomatoes from Nepal amid record spike in prices")
Bajaj Electricals Q1 profit falls as unseasonal rains, inflation hit demand
Consolidated net profit was 371.3 million rupees ($4.49 million) for the three months ended June 30, compared with 429.6 million rupees a year earlier
 "Bajaj Electricals Q1 profit falls as unseasonal rains, inflation hit demand")
High fruit prices may likely increase food inflation further in 2023
The late arrival of monsoon and heavy monsoon rains have impacted crops, which led to higher prices
 "High fruit prices may likely increase food inflation further in 2023")
Tomato woes: MPC pegs inflation at over 6 per cent in current quarter
Inflation unlikely to fall to 4% target even in Q1 FY25; GDP growth projections kept intact
 "Tomato woes: MPC pegs inflation at over 6 per cent in current quarter")
RBI retains FY24 GDP forecast at 6.5%, raises inflation projection to 5.4%
"Headwinds from weak global demand, volatility in global financial markets, geopolitical tensions and geoeconomic fragmentation, however, pose risks to the outlook," Das said
Rupee eyes RBI monetary policy decision, US inflation data to follow
Non-deliverable forwards indicate the rupee will open barely changed to the U.S. dollar from 82.8150 on Wednesday. In the last two sessions, the currency has been in the range of around six paisa
 "Rupee eyes RBI monetary policy decision, US inflation data to follow")
Disinflation spreads across several emerging markets and selloff deepens
In Hungary, which has the highest interest rate in the European Union, inflation dipped below 20% for the first time in 11 months. The government expects the rate to fall below 10% by October
 "Disinflation spreads across several emerging markets and selloff deepens")
A veg thali cost 28% more in July than June, thanks to tomatoes: CRISIL
A veg thali comprises roti, vegetables (onion, tomato, and potato), rice, dal, curd, and salad
 "A veg thali cost 28% more in July than June, thanks to tomatoes: CRISIL")
Pakistan's inflation touches 29.8% amid rise in food, energy prices
Out of these commodities, the price of milk, sugar, and firewood went up; wheat flour and vegetable ghee decreased; whereas prices of long cloth, and electricity remained unchanged
 "Pakistan's inflation touches 29.8% amid rise in food, energy prices")
ECB's Philip lane sees inflation slowing significantly later this year
While price pressures won't hit the ECB's goal until sometime in 2025, the recent decline in energy will reduce costs across the economy before long, he said in a podcast produced by the central bank
 "ECB's Philip lane sees inflation slowing significantly later this year")