Page 29 - Inflation

Consumers find relief from boiling oil prices in 2023 even after CPI rises

According to data by Bizom, prices of edible oils ranged from a fall of 13.3 per cent to 30.2 per cent in November this year compared to last year

Inflation to ease to 4.6% in the first three quarters of 2024-25: RBI

The RBI bulletin released on Wednesday said that global growth continues to remain fragile and may slow down further in 2024

India tops remittances table with $125 bn inflows: World Bank report

Inflation declining and strong labour markets in high-income source countries boosted transfers by highly skilled Indians, it says

WPI inflation in Nov at 0.26%, returns to positive territory after 7 months

The rise in WPI inflation was led by food inflation. The index in this category rose steeply by 4.69% in November as compared to 1.07% in October

Louis Dreyfus eyes deeper engagement with agritech startups: Sumeet Mittal

Inflation in 2023-24 and 2024-25 won't be as impactful as it was last year

Modi's guarantee is guarantee of inflation: Cong slams over sky high prices

The Congress on Wednesday slammed the government over "skyrocketing prices" of essential commodities, saying "Modi's guarantee is the guarantee of inflation". Congress general secretary Jairam Ramesh alleged that Prime Minister Narendra Modi has completely failed to control inflation and they keep raising various issues to hide this "failure". In a post in Hindi on X, Ramesh said, "Modi's guarantee is the guarantee of inflation!" "Nowadays, the BJP is talking about the guarantee of the Prime Minister.Don't know about their other guarantees, but one guarantee that the country has got in the last nine and a half years is the guarantee of inflation." Due to the wrong policies of this government, inflation has already broken the record of 45 years, he said. "The prices of essential commodities are continuously skyrocketing. Due to increasing prices of food items, retail inflation has now reached 5.5 percent," Ramesh said. "The prime minister has completely failed to control inflation

US inflation likely cooled again last month as Fed prepares to assess rates

This year's steady slowdown in US inflation likely continued in November, though the latest data may also point to steadily higher prices in some areas of the economy. Tuesday's inflation report from the Labor Department is expected to show that businesses kept overall prices unchanged for a second straight month. Falling gas prices, in particular, are thought to have offset a rise in food costs from October to November. And compared with a year earlier, inflation is expected to ease to 3.1 per cent from 3.2 per cent in October, according to a survey of economists by FactSet. But a closely watched category called core prices, which excludes volatile food and energy costs, is predicted to rise 0.3 per cent from October to November a monthly pace that far outpaces the Federal Reserve's 2 per cent annual inflation target. On a year-over-year basis, core prices are expected to increase 4 per cent, the same as in October. The Fed considers core prices to be a better guide to the likely

Inflation now stable, temporary rises due to demand-supply mismatches: FM

Finance Minister Nirmala Sitharaman on Monday said retail inflation is now "stable" and temporary increases in inflation on a few occasions are caused by demand-supply mismatches arising out of global shocks and adverse weather conditions. In a written reply to the Lok Sabha, Sitharaman said India's retail inflation has declined from an average of 7.1 per cent in April-October 2022 to 5.4 per cent in the corresponding period of 2023. "The retail inflation is now stable and within the notified tolerance band of 2 per cent to 6 per cent. A steady decline in core inflation, estimated after removing volatile food and fuel items from retail inflation, has been critical in weakening the inflationary pressure in the Indian economy," she said. The core inflation rate has declined from 5.1 per cent in April 2023 to 4.3 per cent in October 2023. The minister said retail inflation in India has been mostly within acceptable limits after the notification of the inflation tolerance band in ...

India's potential economic growth rate likely now at 7%, estimates Axis

An economy that's growing faster than its potential would generally result in bottlenecks in supply, causing inflation to accelerate and putting pressure on the central bank to hike interest rates

No plans to loosen rates, no complacency on inflation fight: RBI governor

Governor Shaktikanta Das on Friday ruled out loosening interest rates, saying inflation remains top priority as a few months of good data should not lead to complacency, even as the Reserve Bank kept key policy rates unchanged for the fifth consecutive time. The six-member monetary policy committee of the Reserve Bank of India voted to leave the repurchase rate at 6.50 per cent and decided to keep on sucking out liquidity from the system. Addressing reporters after the bi-monthly policy announcement at the central bank headquarters here, Das clarified that the inclusion of over-tightening in his policy statement should not be construed as anything else. A "loosening" of the rates is not on the table at all," the governor said. Sounding more hawkish, Das said, "The primary objective of the monetary policy, as prescribed in the law, is ensuring price stability that's by maintaining inflation at 4 per cent target for a durable time. ...in May 2022 when we had shifted our focus from .

World food price index unchanged in November, says UN food agency

The Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 120.4 points in November, 10.7% lower than last November

RBI monetary policy: 5 key announcements from the governor's speech today

RBI monetary policy: Central bank raised the UPI payment limits for hospitals and educational institutions to Rs 5 lakh from Rs 1 lakh per transaction

RBI MPC keeps repo rate unchanged at 6.5% for 5th straight policy review

The central bank raised the GDP growth forecast for FY24 to 7% from 6.5%

RBI MPC: Repo rate kept unchanged at 6.5%, FY24 GDP estimate hiked to 7%

RBI MPC: Reserve Bank's Monetary Policy Committee decides to keep the repo rate unchanged at 6.5% and also keeps the FY24 inflation forecast unchanged at 5.4%

RBI set to retain hawkish pause on interest rates; keep liquidity tight

The swap markets are signalling that the Indian central bank will begin cutting rates in the middle of 2024, at least a quarter after the U.S. Federal Reserve is expected to start loosening policy

Govt bans sugarcane juice, syrup for ethanol making in 2023-24 supply year

The Centre on Thursday banned the use of 'sugacane juice and sugar syrup' for ethanol production in the 2023-24 supply year that started this month, in order to maintain adequate sugar availability for domestic consumption and to keep prices under check. However, the government has allowed use of 'B-molasses' for ethanol production in 2023-24, a move which sugar industry bodies welcomed. In a letter issued to all sugar mills and distillers, the Food Ministry directed them "not to use sugarcane juice /sugar syrup" for ethanol production during the 2023-24 ethanol supply year (December-November). The directive was issued as per clause 4 and 5 of the Sugar (Control) Order 1966. "Supply of ethanol from existing offers received by Oil Marketing Companies (OMCs) from B-Heavy molasses will continue," Food ministry said in the letter. The decision by the ministry comes in the backdrop of estimated fall in sugar production in 2023-24 marketing year (October-September). Welcoming the move,

Erratic rainfall, festive demand raised cost of veg thali 10% in November

The cost of a non-veg thali jumped 5% in November as compared to October: CRISIL's Roti Rice Rate index

810 mn dependent on free foodgrains from govt due to inflation: Mayawati

BSP chief Mayawati Wednesday said neither the freedom fighters nor the architect of the Indian Constitution Bhimrao Ambedkar would have thought that more than 81 crore poor people of the country would be dependent on free foodgrains from government as she slammed the Centre for rising inflation. Paying tributes to Ambedkar on his death anniversary, she said the condition of the poor, labourers, farmers, small businessmen, and the middle class could have been improved considerably had the Constitution been implemented in the right manner. "Immense reverence to Bharat Ratna Babasaheb Bhimrao Ambedkar, the messiah of the poor, labourers, Dalits, tribals and backward classes of the 140-crore strong India and the architect of the country's humanitarian and egalitarian constitution, on his death anniversary," Mayawati said in a post on X. On the occasion, she, however, took potshots at the Union government, saying neither the freedom fighters nor Ambedkar could have thought of the plight

Travellers may now be able to buy onions, atta at major metro stations

If the plan is successful in Delhi, it may also be extended to other cities with metro networks like Chennai, Mumbai and Bengaluru

India's services PMI falls to 56.9 in November, lowest in 2023 so far

S&P Global said that the slowdown in services PMI was mainly owing to a slowdown in new orders as well as output across sectors