Govt seeks RBI's view on tweaks to CPI basket and if old weightings need to be changed
Softens to four-month low of 1.22% in December from 1.55% in November as food items enter deflationary zone; core inflation at 2-year high of 4.2%
Food inflation declined to 3.41 per cent in December, compared to 9.5 per cent in the previous month
Stock market updates: Nifty PSU Bank index surged over 6 per cent and was the top sectoral gainer
The MPC in all likelihood would keep the repo rate unchanged at 4 per cent, extending the pause from its August and October meetings and reiterating the accommodative stance
A large autonomous driver of liquidity has been RBI intervention in the foreign exchange markets.
The CPI-IW hasn't been revised since 2001 - an exercise which should usually take place every five years
All that happened in the markets today
The MPC held its first meeting in October 2016 under then-Governor Urjit Patel
Inflation breaches 6% for second straight quarter, set to cross limit for third quarter
Official data released on Thursday showed that CPI for July rose 6.93 per cent year on year, up from 6.23 per cent in June
Local lockdowns, taxes on fuels, services, hardening commodity prices may drive up inflation: Economists
Divergence seen narrowing in June as lockdown restrictions are eased
Food inflation in WPI rose to 2.04 per cent in June from 1.13 per cent due to disruptions caused by rains
Manufactured products, however, witnessed inflation of 0.08 per cent in June. In May deflation was 0.42 per cent
The National Statistical Office (NSO) released the headline CPI numbers after a gap of two months.
The government for the second month in a row released the truncated data on retail inflation in the backdrop of the lockdown following Covid-19 pandemic
All that happened in the markets today
The SGX Nifty is indicating a gap-up open today with the Nifty likely to open at around 10,260 levels on the back of firm global cues
It's one of those rare periods where deflation is also possible. The RBI may have to adjust money supply in either direction