Page 82 - Latest Updates on Inflation
Revenue-oriented policies need to be reviewed to fight inflation
However, the government can review its excessive revenue-oriented policies to tackle inflation and boost domestic demand
Q1 early-bird results show inflation effect on India Inc's profits
First sequential contraction in corporate earnings after 4 quarters of expansion
 "Q1 early-bird results show inflation effect on India Inc's profits")
Despite fiscal steps, wheat, pulses and LPG see high inflation in July
The government announced a number of fiscal steps after overall inflation refused to come below six per cent since January this year.
 "Despite fiscal steps, wheat, pulses and LPG see high inflation in July")
At 50 basis points, European Central Bank's rate hike higher than expected
Euro zone central bank's first rate hike in 11 years confirms that concerns about runaway inflation now trump growth considerations
 "At 50 basis points, European Central Bank's rate hike higher than expected")
Markets surge amid 'peak inflation' optimism, gain now 4% in 4 days
Sensex closes at highest level since June 6; Up 8% from CY22 lows
 "Markets surge amid 'peak inflation' optimism, gain now 4% in 4 days")
Copper rises from multi-month lows as upbeat sentiment lifts base metal
A weaker U.S. dollar in recent days has also helped metals, which are priced in the greenback, by making them cheaper for buyers with other currencies.
 "Copper rises from multi-month lows as upbeat sentiment lifts base metal")
Sensex up 630 pts, Nifty atop 16,500; ONGC, RIL, Infy, TCS top contributors
CLOSING BELL: ONGC, Tech M, Reliance Industries, TCS, HCL Tech, SBI, and Infosys were the top gainers, up between 2 per cent and 3.7 per cent
 "Sensex up 630 pts, Nifty atop 16,500; ONGC, RIL, Infy, TCS top contributors")
ITC will continue to deliver robust growth despite inflation concerns: Puri
Diversified conglomerate ITC Limited said that the company will continue to deliver robust growth despite key concerns such as inflation
 "ITC will continue to deliver robust growth despite inflation concerns: Puri")
Several supply-side measures taken in last 4 months to cool inflation: FM
Prices of major essential commodities are monitored by the government on a regular basis and corrective action is taken from time to time, she said
 "Several supply-side measures taken in last 4 months to cool inflation: FM")
Labour unions ramp up efforts to take on Centre over rising prices
Inflation becoming difficult to tame, says BMS; CITU, AITUC plan to hold protest on I-Day eve
 "Labour unions ramp up efforts to take on Centre over rising prices")
Inflation and market condition are still concerns: HUL CMD Sanjiv Mehta
Mehta also suggested that the government could use the "huge amount of reserves" to prevent the rupee from depreciating rapidly.
 "Inflation and market condition are still concerns: HUL CMD Sanjiv Mehta")
RIL, banks lift Sensex 246 pts, Nifty tops 16,300; Rupee ends at 79.95/$
CLOSING BELL: The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India
 "RIL, banks lift Sensex 246 pts, Nifty tops 16,300; Rupee ends at 79.95/$")
Euro rallies after report that bigger ECB rate hike is on the cards
The euro rose to as high as $1.0254, up 1.1% on the day and its strongest since July 6 as money markets priced in a 60% chance of a 50 basis point hike on Thursday, up from 25% on Monday.
 "Euro rallies after report that bigger ECB rate hike is on the cards")
Markets should be able to withstand inflation up to 8%: Credit Suisse
The key risks to India's economy, and thus the markets, stem from crude oil prices and a worsening balance-of payment situation, Credit Suisse analysts said
 "Markets should be able to withstand inflation up to 8%: Credit Suisse")
Goldman Q2 profit halves but beats estimates as fixed-income trading shines
Investment banking revenue fell 41% to $2.14 billion in the quarter
 "Goldman Q2 profit halves but beats estimates as fixed-income trading shines")
RS proceedings adjourned for today following disruption by Opposition
Rajya Sabha proceedings were adjourned for the day on the first day of the Monsoon Session on Monday following sloganeering and disruption by Congress MPs over issues like price rise and GST
 "RS proceedings adjourned for today following disruption by Opposition")
Monsoon Session from today: Govt lists 32 bills, Oppn seeks Agnipath debate
Union Minister Prahlad Joshi has listed the government's business for the monsoon session, which includes 14 pending bills and 24 new bills
 "Monsoon Session from today: Govt lists 32 bills, Oppn seeks Agnipath debate")
Surprise tightening in Asia increases pressure on dovish central banks
Singapore and the Philippines both tightened their monetary policies in emergency moves after data showed inflation in the US was running hot and the Federal Reserve was considering another large hike
 "Surprise tightening in Asia increases pressure on dovish central banks")
Central banks: Redeeming credibility
Central banks seem to have forgotten that there is one role, viz. controlling inflation, which is solely their responsibility
22 states, UTs see rise in inflation, despite marginal reduction overall
Lakshadweep was the only UT where the urban inflation rate was in double digits in June
 "22 states, UTs see rise in inflation, despite marginal reduction overall")