Page 32 - Inflation

Retail inflation for farm workers rises from 6.31% to 7.43% in July

Retail inflation for farm and rural workers inched up to 7.43 per cent and 7.26 per cent in July compared to 6.31 per cent and 6.16 per cent, respectively, in June this year, mainly due to higher prices of certain food items. "Point-to-point rate of inflation based on the CPI-AL and CPI-RL stood at 7.43 per cent and 7.26 per cent in July 2023 compared to 6.31 per cent and 6.16 per cent, respectively, in June 2023 and 6.60 per cent and 6.82 per cent, respectively, during the corresponding month of (July 2022) the previous year," a labour ministry statement said. Similarly, it stated that food inflation stood at 8.88 per cent and 8.63 per cent in July 2023 compared to 7.03 per cent and 6.70 per cent, respectively, in June 2023 and 5.38 per cent and 5.44 per cent during the corresponding month of the previous year. The All-India Consumer Price Index Number for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) for July 2023 increased by 19 points each to stand at 1,215 and

Modi govt seeks to free up $12 billion to tackle inflation before LS vote

It would be the second straight year of similar adjustments to contain costs for consumers after the government unveiled a $26-billion plan last year

Economy gathering momentum in Q2, inflation remains concern, says RBI

Indian economy is gathering momentum in the second quarter, though inflation would continue to average above the central bank's comfort zone of 6 per cent, said an article in the RBI's monthly bulletin released on Thursday. The consumer price index (CPI) based retail inflation shot up significantly to 7.44 per cent in July, from 4.87 per cent in the preceding month, mainly due to soaring prices of tomato, vegetables and other food items. In his address to the nation on the Independence Day, Prime Minister Narendra Modi vowed to take more steps to contain price rise. The uptick in inflation in its June reading mutated in July, with the unprecedented shock to tomato prices spilling over to prices of other vegetables, said the article on 'State of the Economy'. "While core inflation witnessed a moderation, headline inflation is expected to average well above 6 per cent in the second quarter," it said. The article has been authored by a team lead by Reserve Bank Deputy Governor Michae

India August retail inflation expected below 7%: Motilal Oswal's Gupta

Retail inflation rose as of last count as prices of vegetables and cereals skyrocketed, beating all market expectations and putting pressure on the government to bring down prices

Emerging Asian bond investors turn cautious as rate cut wagers disappears

Market sentiment is starting to shift as rising commodity prices keep the policymakers from letting their guard down on inflation

UK headline inflation rate easing but sugar, rent, insurance surging

fficial statistics showed the Consumer Prices Index slid to 6.8% last month from a four decade peak of 11.1% late last year

UK inflation cools as expected in July but services surprise to upside

Despite the drop, Britain retains one of the highest rates of price growth in Western Europe, with only Iceland and Austria suffering higher inflation in July

UK wages grow at a record pace, fuelling Bank of England's inflation worry

The figures are the first of two batches of economic data that will guide the BOE's next rate decision on September 21

India's services exports see 12% growth at $27.17 billion in July

The trade deficit narrowed to $20.67 billion in July from $25.45 billion a year ago but widened from $18.76 billion in June

CPI-based inflation surges to 7.44% in July on 11.51% retail food inflation

CPI inflation: This is the highest retail inflation since April 2022 when it was recorded at 7.79 per cent

July WPI-based inflation comes at -1.36% as food prices skyrocket

WPI inflation in primary articles was considerably higher at 7.57 per cent as compared to July last year

Inflation, FII data to drive Market in holiday-shortened week: Analysts

Inflation data, global trends and foreign fund trading activity would guide equity market movement in a holiday-shortened week, analysts said. Stock markets would remain closed on Tuesday for Independence Day. "Macroeconomic indicators, rupee and FII activities will be pivotal in shaping market trends in the coming days. Domestically, inflation figures hold significance. Globally, attention will be directed toward Japan's inflation data, China's IIP numbers, and the US retail sales statistics," said Santosh Meena, Head of Research, Swastika Investmart Ltd. On the macroeconomic front, wholesale and retail inflation numbers for July would be announced on Monday. "India's WPI and CPI inflation data, exports and imports numbers will be in focus in the coming days. We expect the Indian market will continue to remain rangebound and will take further cues from US jobs data and minutes of the Federal Open Market Committee (FOMC) meeting," Arvinder Singh Nanda, Senior Vice President, Master

Sensex down for 2nd day, dips 365 pts; Nifty near 19,400; all but PSBs fall

CLOSING BELL ON AUGUST 11, 2023: 14 out of the Sensex 30 stocks declined over a per cent each, while HCL Tech gained 3 per cent on Friday.

RBI move focused on taming inflation, supporting growth: Industry groups

RBI has kept the policy rate unchanged at 6.5 per cent

Sensex ends 308 pts lower post RBI policy, Nifty near 19,550; Zee zooms 20%

CLOSING BELL ON AUGUST 10, 2023: Private bank and select auto stocks ended with notable losses after the RBI on Thursday asked banks to maintain Incremental Cash Reserve Ratio (ICRR) at 10 per cent.

India starts importing tomatoes from Nepal amid record spike in prices

The first lot of imports are likely to reach by Friday in Varanasi, Lucknow and Kanpur cities in northern India, Finance Minister Nirmala Sitharaman told the parliament

Bajaj Electricals Q1 profit falls as unseasonal rains, inflation hit demand

Consolidated net profit was 371.3 million rupees ($4.49 million) for the three months ended June 30, compared with 429.6 million rupees a year earlier

High fruit prices may likely increase food inflation further in 2023

The late arrival of monsoon and heavy monsoon rains have impacted crops, which led to higher prices

Tomato woes: MPC pegs inflation at over 6 per cent in current quarter

Inflation unlikely to fall to 4% target even in Q1 FY25; GDP growth projections kept intact

RBI retains FY24 GDP forecast at 6.5%, raises inflation projection to 5.4%

The RBI on Thursday retained the GDP growth projection for current fiscal year at 6.5 per cent and raised the inflation projection marginally to 5.4 per cent due to spike in vegetable prices, including tomatoes. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said domestic economic activity is maintaining resilience. He also said the recovery in kharif sowing and rural incomes, the buoyancy in services and consumer optimism should support household consumption. "Headwinds from weak global demand, volatility in global financial markets, geopolitical tensions and geoeconomic fragmentation, however, pose risks to the outlook," Das said. Taking all these factors into consideration, real GDP growth for 2023-24 is projected at 6.5 per cent with Q1 at 8 per cent; Q2 at 6.5 per cent; Q3 at 6.0 per cent; and Q4 at 5.7 per cent. Real GDP growth for Q1 of 2024-25 is projected at 6.6 per cent. On inflation, the governor said the spike in vegetable prices, led