Page 6 - Consumer Price Index

Expanding RBI's toolkit

Machine learning can improve inflation forecasting

Rupee ends 1 paisa lower at 83.38 against dollar ahead of US CPI data

The rupee closed at 83.3875 against the U.S. dollar, barely changed from its close at 83.3925 in the previous session. The unit hovered between 83.36 and 83.39 on Tuesday

Rural retail inflation higher than urban in 18 of the past 22 months

In October 2023, rural inflation stood at 5.12 per cent against urban inflation at 4.62 per cent

Retail inflation falls again in October, hits 5-month low of 4.87%

Food inflation remained sticky as it slightly moderated to 6.61 per cent in October from 6.62 per cent in September due to the prices of items within the category cancelling each other out

Sept retail inflation at 3-mnth low of 5.02%; Aug IIP growth rises to 10.3%

Food inflation also declined to a three-month low of 6.56 per cent in September from 9.94 per cent in August

US consumer prices rise on surge in rents, underlying inflation cools

Weekly jobless claims unchanged at 209,000

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