Page 64 - Latest Updates on Inflation
Wall St drops amid inflation, rate hike worries; megacap growth stocks fall
Megacap growth stocks fall against rise in yields; oil prices add to inflation woes post OPEC+ output cut; US weekly jobless claims increase more than expected
 "Wall St drops amid inflation, rate hike worries; megacap growth stocks fall")
Dabur India flags up to 200 bps margin hit in Q2 as inflation bites
Dabur's consolidated revenue grew 8.1% in the June-quarter, with an operating margin of 19.62%
 "Dabur India flags up to 200 bps margin hit in Q2 as inflation bites")
India's Edelweiss AM says repo rate may hit 6.75% on inflation woes
RBI may have to hike the repo rate to 6.75% as inflation remains a threat, lingering above the central bank's target range for the remainder of the year, the head of fixed income at Edelweiss AM said
Joe Biden writes to S Korean President Yoon Suk-yeol seeking talks on IRA
US President Joe Biden has sent a letter to South Korean President Yoon Suk-yeol expressing his willingness to continue frank and open-minded talks on the US Inflation Reduction Act
 "Joe Biden writes to S Korean President Yoon Suk-yeol seeking talks on IRA")
86% of global CEOs see recession within 12 months, finds KPMG survey
46% of corporate leaders considering job cuts over the next six months
 "86% of global CEOs see recession within 12 months, finds KPMG survey")
UK PM Liz Truss hints at benefits cuts, courts fresh Tory rebellion
When people are on a fixed income, when they are pensioners, it is quite hard to adjust. It's a different situation for people who are in the position to be able to work, said Liz Truss
 "UK PM Liz Truss hints at benefits cuts, courts fresh Tory rebellion")
US job openings sink amid higher rates and slower growth in August
The number of available jobs in the US plummeted in August compared with July, a sign that businesses may pull back further on hiring and potentially cool chronically high inflation
 "US job openings sink amid higher rates and slower growth in August")
Reduction in sown acreage to feed inflation: Bank of Baroda report
The reduction in sown area for rice and pulses during Kharif season is expected to feed inflation in the coming months, said Bank of Baroda in a report.
 "Reduction in sown acreage to feed inflation: Bank of Baroda report")
Sri Lanka's central bank to hold rates as inflation worries persist
The CBSL has raised rates by a record 950 basis points this year to battle high inflation which is adding to the country's economic woes
 "Sri Lanka's central bank to hold rates as inflation worries persist")
Turkey inflation hits fresh 24-year high of 83% in September, shows data
The acceleration follows a series of interest-rate cuts this year by central bank Governor Sahap Kavcioglu that threaten to pile even more pressure on inflation
 "Turkey inflation hits fresh 24-year high of 83% in September, shows data")
India's economic growth to decline to 5.7% in 2022, says UNCTAD
As economic activity is hampered by higher financing cost and weaker public expenditures, GDP growth is projected to decelerate to 5.7 per cent in 2022," it explained.
 "India's economic growth to decline to 5.7% in 2022, says UNCTAD")
Turkey's annual inflation hits new 24-year high at 83.45% in September
Turkey's annual inflation reached a new 24-year high of 83.45 per cent in September, according to official data on Monday, pushing the cost of essential goods higher and further hitting households
 "Turkey's annual inflation hits new 24-year high at 83.45% in September")
Service sector may be included in the Wholesale Price Index soon: Report
A government panel headed by Niti Aayog's Ramesh Chand is finalising the changes in the WPI to include 60 per cent of the economy for the first time
 "Service sector may be included in the Wholesale Price Index soon: Report")
RBI plays out familiar script, more rate hikes to follow
In 2019, when retail inflation was 3%, the policy rate was 5.75%. Now inflation hovers around 7% and the policy rate is 5.9%. It needs to move up
Inflation may fall to 5.2% next fiscal on normal rains, supply ease: Report
High inflation remains a key policy concern for the Reserve Bank but the pressure might ease next fiscal assuming normal rains and further normalisation of global supply chains, said an RBI report
 "Inflation may fall to 5.2% next fiscal on normal rains, supply ease: Report")
Economy seen as sweet spot world over; inflation at manageable level: FM
Finance minister Nirmala Sitharaman on Saturday said inflation is at a manageable level.
 "Economy seen as sweet spot world over; inflation at manageable level: FM")
India Inc's credit rating upgrade momentum continues in first half of FY23
Profiles have adequate headroom to navigate the current challenges.
 "India Inc's credit rating upgrade momentum continues in first half of FY23")
Higher rates to hit real estate and infrastructure projects, say experts
Worried that the rising rates will hit new projects, CEOs said new loans will cost more this increasing the cost of projects
 "Higher rates to hit real estate and infrastructure projects, say experts")
RBI raises repo rate by 50 bps to 3-year high; FY23 GDP forecast cut to 7%
Inflation target retained at 6.7%; trajectory remains uncertain: Governor
 "RBI raises repo rate by 50 bps to 3-year high; FY23 GDP forecast cut to 7%")
Inflation seen staying above 4% in FY23, to average 5.2% in FY24: RBI
Das says RBI won't make public the communication on failure of achieving target to govt
 "Inflation seen staying above 4% in FY23, to average 5.2% in FY24: RBI")