Page 35 - Latest Updates on Inflation
Persistent inflation, rising rates will weigh on global economy: OECD
"The global economy is turning a corner but faces a long road ahead to attain strong and sustainable growth," the intergovernmental organisation said
 "Persistent inflation, rising rates will weigh on global economy: OECD")
RBI not to remove its finger from repo rate pause button: Experts
The Reserve Bank of India's (RBI) Monetary Policy Committee (MPC) may not remove its finger from the repo rate pause button it had hit in April 2023, said experts
 "RBI not to remove its finger from repo rate pause button: Experts")
RBI's efforts to drain liquidity signal its intent to quash inflation
The RBI drained 508.7 billion rupees from the banking system on June 2 through a 14-day reverse repo auction, and it removed another Rs 666.4 billion via a four-day operation on June 5
 "RBI's efforts to drain liquidity signal its intent to quash inflation")
Expected pause, surprise on stance?
A change in stance could be inferred by the markets as a definite sign of rates peaking. MPC needs to be comfortable with expressing the softer-than 'pause but not a pivot' view of the April policy
 "Expected pause, surprise on stance?")
May services PMI at 61.2 as demand remains resilient amid rising inflation
India's headline figure has been in the expansion zone for 23 months straight since August 2021
 "May services PMI at 61.2 as demand remains resilient amid rising inflation")
MPC likely to hit pause again on repo rate: Business Standard Poll
Most economists see FY24 inflation forecast likely being revised downward to 5% but no change in stance
 "MPC likely to hit pause again on repo rate: Business Standard Poll")
Global food costs at two-year low in May but grocery bills stay high
A United Nations' index of food-commodity prices fell 2.6% in May, as declines in grains, vegetable oil and dairy offset higher sugar and meat costs
 "Global food costs at two-year low in May but grocery bills stay high")
Cause and effect: Are corporate profits fueling inflation globally
As the Federal Reserve continues with hikes, the linkage between corporate profit margins and inflation is blamed for consumer burden
 "Cause and effect: Are corporate profits fueling inflation globally")
Lanka central bank unexpectedly cuts rates by 250 bps as inflation eases
The index peaked at a 69.8% year-on-year surge in September last year. The national inflation rate was at 33.6% in April, easing from 73.7% in September
 "Lanka central bank unexpectedly cuts rates by 250 bps as inflation eases")
Economists predict first rate cut by RBI in 2024 for durable growth
Policy makers from the RBI will meet June 6-8 to deliberate and economists are expecting another hold in rates as the central bank focuses on growth while inflation shows signs of moderating
 "Economists predict first rate cut by RBI in 2024 for durable growth")
Operating environment to remain volatile amid global slowdown: HUL
HUL's outgoing Chief Executive Officer and Managing Director Sanjiv Mehta said the company delivered an impressive performance in 2022-23
 "Operating environment to remain volatile amid global slowdown: HUL")
Growth momentum to hold amid easing inflation, says RBI annual report
At the same time, India's growth momentum is likely to be sustained in FY24 in an atmosphere of easing inflationary pressures, the RBI said in its annual report for 2022-23, released on Tuesday
 "Growth momentum to hold amid easing inflation, says RBI annual report")
Won't let guard down against inflation, says FM Nirmala Sitharaman
Economists expect inflation to fall further towards 4 per cent levels - the medium-term target of the central bank - in May
 "Won't let guard down against inflation, says FM Nirmala Sitharaman")
Inflation rate in India lesser than US, UK, Germany: Union minister Kishan
Asserting that NDA has provided a corruption-free government to the nation in last nine years, Union minister G Kishan Reddy claimed that inflation rate in India was lesser than many other countries
 "Inflation rate in India lesser than US, UK, Germany: Union minister Kishan")
RBI may reduce policy repo rate in fourth quarter of 2024: Oxford Economics
Oxford Economics said RBI may cut key policy rate in fourth quarter of current calendar year as a mix of factors will allow central bank to shift focus and adopt accommodative policy stance sooner
 "RBI may reduce policy repo rate in fourth quarter of 2024: Oxford Economics")
UK's Treasury chief accepts that recession may be imp to lower inflation
Higher borrowing costs are aimed at making it more expensive for individuals and businesses to borrow, which dampens demand in the economy
 "UK's Treasury chief accepts that recession may be imp to lower inflation")
'9 saal, 9 sawaal': Congress asks questions as Modi govt completes 9 years
The document which is titled '9 saal 9 sawaal' lists queries on various subjects which include the economy, corruption, Coronavirus management, and China border row among other things
 "'9 saal, 9 sawaal': Congress asks questions as Modi govt completes 9 years")
Sri Lanka hopes for single digit inflation by year-end: Guv Weerasinghe
The IMF bailout, the 17th in Sri Lanka's history, was approved following prolonged discussions held up over Colombo's unsustainable debt
 "Sri Lanka hopes for single digit inflation by year-end: Guv Weerasinghe")
Germany enters recession as energy prices soared after Ukraine war
First-quarter output shrank 0.3% from the previous three months following a 0.5% drop between October and December, statistics office. Its initial estimate, last month, was for stagnation
 "Germany enters recession as energy prices soared after Ukraine war")
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