Page 44 - Latest Updates on Inflation
Govt hikes DA, DR for central govt employees to 42% of basic pay
The move will benefit about 4.8 million central government employees and 6.9 million pensioners. The decision will be effective from 1 January, 2023
 "Govt hikes DA, DR for central govt employees to 42% of basic pay")
India pitches for ratings upgrade at meeting with representatives of Fitch
Fitch currently rates India's long-term sovereign debt at BBB- with a stable outlook
 "India pitches for ratings upgrade at meeting with representatives of Fitch")
Maruti to hike prices from April amid continued rise in input costs
This is Maruti's second price increase this year
 "Maruti to hike prices from April amid continued rise in input costs")
Without reforms, the country could see hyperinflation: IMF warns Lebanon
Three-quarters of Lebanon's population of over 6 million, including a million Syrian refugees, now lives in poverty and inflation is soaring
Bank of England raises interest rates again, sees inflation shock fading
BoE announces quarter-point rate hike to 4.25%; MPC says it expects inflation to fall faster
Sensex snaps 2-day winning run, slips 289pts; Nifty below 17100; banks fall
CLOSING BELL: Selling in heavyweights like SBI (down 2 per cent), HCL Tech, Infosys, Reliance Industries, HDFC Bank, HDFC, and ICICI Bank weighed on the benchmarks
Overestimation of inflation in Jan, Feb? RBI cites NSO methodology
It points to a sharp divergence in inflation in the cereals sub-group
 "Overestimation of inflation in Jan, Feb? RBI cites NSO methodology")
India better placed than most to face turmoil, says RBI report
'Core inflation defies softening of input costs'
 "India better placed than most to face turmoil, says RBI report")
Will the global economy bend or break?
What's different this time is that global financial stress - which has its genesis in four policy choices made in recent years - is juxtaposed with a more resilient real economy
Inflation likely to be determined by heatwaves, El Nino: Monthly eco review
Govt has said that the inflation trajectory is likely to be determined by extreme weather conditions like heatwaves and the possibility of an El Nino year, volatility in international commodity prices
 "Inflation likely to be determined by heatwaves, El Nino: Monthly eco review")
Sensex gyrates 744 pts, ends 361 pts down; Nifty below 17K; HUL, ITC shine
CLOSING BELL: For better part of the day, equity markets roiled in global rout as fears of a contagion banking sector failure soured sentiment
 "Sensex gyrates 744 pts, ends 361 pts down; Nifty below 17K; HUL, ITC shine")
US banking crisis: Key interest rates suggest RBI may go slow on tightening
The fall in OIS rates mirrored a decline in the 10-year US bond yield, which plunged close to 40 bps after the collapse of SVB
 "US banking crisis: Key interest rates suggest RBI may go slow on tightening")
Some fodder for thought
Uptrend in milk prices can be attributed chiefly to the steadily worsening shortage and the resultant surge in the prices of fodder and feed, accounting for nearly 65% of the cost of milk production
Rural recovery, price cuts to drive volume gains for consumer companies
It's 'rule Britannia' for brokerages; analysts divided on extent of margin gains
 "Rural recovery, price cuts to drive volume gains for consumer companies")
OECD raises India's FY24 growth forecast by 20 basis points to 5.9%
'Will pick up to recover to about 7% in FY25'
 "OECD raises India's FY24 growth forecast by 20 basis points to 5.9%")
FMCG, select banks help Sensex, Nifty snap 5-day losing streak; Metals dip
CLOSING BELL: Nestle, Titan, Hindustan Unilever and Asian Paints were the major gainers among the Sensex-30 pack; while Tata Steel, IndusInd Bank and Bharti Airtel were the top losers.
 "FMCG, select banks help Sensex, Nifty snap 5-day losing streak; Metals dip")
RBI doing it right on rate hikes, need more: IMF economist Luis Breuer
He also said the Budget's focus on prudence and fiscal consolidation was a good step that will reduce and stabilise public debt, which is quite high in the country compared to other G20 countries
 "RBI doing it right on rate hikes, need more: IMF economist Luis Breuer")
Global environment gloomier, India to grow at 6% next year: CRISIL
CRISIL said that the risks to inflation are 'tilted upward' due to the predictions of El Nino over the next couple of months
 "Global environment gloomier, India to grow at 6% next year: CRISIL")
Former RBI dy governor says pricing power of 'Big 5' driving core inflation
Viral Acharya says the Big5--Reliance, Tata, Aditya Birla, Adani and Bharti--are growing less at the expense of the small fries than at that of the next five big firms
 "Former RBI dy governor says pricing power of 'Big 5' driving core inflation")
No breather for stock markets as US bank crisis weighs on sentiment
Sensex, Nifty fall for 4th day to hit fresh five-month lows
 "No breather for stock markets as US bank crisis weighs on sentiment")