Page 5 - Consumer Price Index

RBI's rate setting body starts deliberations amid expectation of status quo

RBI Governor Shaktikanta Das-headed Monetary Policy Committee (MPC) started its three-day meeting on Wednesday amid expectations of a status quo on the rate front in its bi-monthly monetary policy review. The policy review will be announced on Friday morning. In case of a status quo, interest rates for retail, as well as corporate borrowers, would remain stable. Experts believe that the Reserve Bank will retain the benchmark rate at 6.5 per cent in view of the elevated inflation and global factors. The Reserve Bank started increasing the policy rate in May 2022 in tranches, in the wake of the Russia-Ukraine war and took it to 6.5 per cent in February this year. Since then, it has kept the rate unchanged in the last three successive bi-monthly monetary policy reviews. "The credit policy this time will most likely continue with the existing rate structure as well as policy stance. Hence, the repo rate will be retained at 6.5 per cent with the stance of withdrawal of accommodation," .

MPC in no rush to change benchmark rate, stance: Business Standard poll

Some expect upward revision in FY24 inflation forecast

Retail inflation for industrial workers eases marginally to 6.91% in Aug

Retail inflation for industrial workers eased to 6.91 per cent in August from 7.54 per cent in July this year mainly due to lower prices of certain food items. "Year-on-year inflation for the month (August) stood at 6.91 per cent compared to 7.54 per cent for the previous month and 5.85 per cent during the corresponding month a year before," a Labour Bureau statement said. Food inflation stood at 10.06 per cent in August against 11.87 per cent in the previous month (July 2023) and 6.46 per cent during the corresponding month (August 2022) a year ago. The Labour Bureau, an attached office of the Ministry of Labour & Employment, has been compiling the Consumer Price Index for Industrial Workers (CPI-IW) every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country. The index is compiled for 88 centres and All-India and is released on the last working day of the succeeding month. The All-India CPI-IW for August 2023

99% of investors expect US Federal Reserve to keep rates unchanged

According to the CME Fed Watch tool, 99 per cent of investors expect the US Federal Reserve to keep the rates unchanged at 5.25-5.50 per cent in their next meeting

Is India overestimating inflation as it is skewed to food and beverages?

The work on appropriate weights of various items could be completed once the household consumption expenditure survey is out

Rural Manipur grapples with over 12 per cent inflation amidst unrest

Some 71 per cent of the state's population resides in rural areas

Govt bond yields may rise after higher than expected July inflation print

Experts believe that yield on benchmark 10-year bond might remain at 7.20-7.25%

India's July inflation likely breached RBI's 6% upper tolerance level: Poll

The Aug. 3-8 Reuters poll of 53 economists predicted the consumer price index (CPI) rose at an annual rate of 6.40 per cent in July

US inflation data may offer some comfort to the Fed, CPI may rise 0.2%

Compared with a year earlier, the Labor Department's underlying gauge is forecast to rise 4.8 per cent, according to the median projection in a Bloomberg survey of economists

Indian will maintain its growth momentum despite inflationary pressures: FM

The FM asked CBIC officials to ensure that they focus on stopping smuggling

CPI-based inflation rose to 4.81%, food inflation to 4.49% in June

The IIP growth rate for the month of May came at 5.2%, according to the government release

Consumer demand revival may take one more year despite moderating inflation

RBI's MPC said going forward, the inflation trajectory would be guided by food dynamics

IT stocks shine in lacklustre trade; Sensex ends 99 pts higher

CLOSING BELL ON JUNE 12, 2023: The Nifty reclaimed the 17,600 level; In the broader market, BSE Midcap index advanced 0.5 per cent, and Smallcap added 0.7 per cent on Monday.

Growth momentum to hold amid easing inflation, says RBI annual report

Government capex increase in recent years expected to spur higher private investment in 2023-24, it says

US consumer prices rise moderately in March; underlying inflation still hot

The Consumer Price Index (CPI) climbed 0.1% last month after advancing 0.4% in February, the Labor Department said on Wednesday

Present CPI aggregation method raises issues for monetary policy: RBI paper

Rebasing CPI necessary to make index relevant to present consumption patterns

March retail inflation number may reflect drop in wheat prices

Data shows that in Feb 2023 while WPI-wheat inflation dropped to 18.54%, CPI-wheat inflation for the same month rose from 25.05% in January 2023 to 25.37% in Feb

Commodity costs down, expect price drop: GCPL MD & CEO Sudhir Sitapati

Commodity costs have fallen "sharply" in the last few months, the margin situation is now "pretty good" and a revival in sales volume is expected, helped by price drops in some categories such as soap, said Godrej Consumer Products Ltd (GCPL) Managing Director and CEO Sudhir Sitapati. In the last three-four months, a lot of commodities such as palm oil have deflated, he said, adding the inflation which is presently in the market is as a consequence of the high prices that were there six to eight months ago. "So I certainly do not see price hikes in the short to medium term unless the commodity situation goes up. I see, in categories like in soaps and all, price drops," Sitapati told reporters on the sidelines of an event here. Now the hyperinflationary scenario is gone off and the company "definitely expects volumes to revive", he said, adding there would be negative price growth over the next few months, but with better volumes. Sitapati expects consumption to come back and the ..

Dollar stands firm amid low bond yields, traders await consumer price data

The U.S. dollar was steady elsewhere, loitering just above a seven-month low on the euro at $1.0737 in the lead-up to U.S. inflation data due on Thursday

Canada's CPI rises 6.8% in Nov, prices rise 5.4% on yearly basis: Report

Canada's consumer price index (CPI) rose 6.8 per cent year over year in November, following a 6.9 per cent increase in October, the national statistical agency said