Page 67 - Inflation

Dabur India flags up to 200 bps margin hit in Q2 as inflation bites

Dabur's consolidated revenue grew 8.1% in the June-quarter, with an operating margin of 19.62%

India's Edelweiss AM says repo rate may hit 6.75% on inflation woes

RBI may have to hike the repo rate to 6.75% as inflation remains a threat, lingering above the central bank's target range for the remainder of the year, the head of fixed income at Edelweiss AM said

Joe Biden writes to S Korean President Yoon Suk-yeol seeking talks on IRA

US President Joe Biden has sent a letter to South Korean President Yoon Suk-yeol expressing his willingness to continue frank and open-minded talks on the US Inflation Reduction Act

86% of global CEOs see recession within 12 months, finds KPMG survey

46% of corporate leaders considering job cuts over the next six months

UK PM Liz Truss hints at benefits cuts, courts fresh Tory rebellion

When people are on a fixed income, when they are pensioners, it is quite hard to adjust. It's a different situation for people who are in the position to be able to work, said Liz Truss

US job openings sink amid higher rates and slower growth in August

The number of available jobs in the US plummeted in August compared with July, a sign that businesses may pull back further on hiring and potentially cool chronically high inflation. There were 10.1 million advertised jobs on the last day of August, the government said on Tuesday, down a huge 10 per cent from 11.2 million openings in July. In March, job openings had hit a record of nearly 11.9 million. Layoffs ticked up in August but remained at a historically low level. And slightly more people quit their jobs. The sharp drop in job openings will be welcomed by the Federal Reserve. Fed officials have cited the high level of openings as a sign of strong labour demand that has compelled employers to steadily raise pay to attract and keep workers. Smaller pay raises, if sustained, should ease inflationary pressures. In their effort to combat the worst inflation in 40 years, the central bank has raised its key short-term interest rate to a range of 3 per cent to 3.25 per cent, up sh

Reduction in sown acreage to feed inflation: Bank of Baroda report

The reduction in sown area for rice and pulses during Kharif season is expected to feed inflation in the coming months, said Bank of Baroda in a report.

Sri Lanka's central bank to hold rates as inflation worries persist

The CBSL has raised rates by a record 950 basis points this year to battle high inflation which is adding to the country's economic woes

Turkey inflation hits fresh 24-year high of 83% in September, shows data

The acceleration follows a series of interest-rate cuts this year by central bank Governor Sahap Kavcioglu that threaten to pile even more pressure on inflation

India's economic growth to decline to 5.7% in 2022, says UNCTAD

India's economic growth is expected to decline to 5.7 per cent this year from 8.2 per cent in 2021, a top UN agency projected on Monday, citing higher financing cost and weaker public expenditures. India's GDP will further decelerate to 4.7 per cent growth in 2023, according to the forecast by the United Nations Conference on Trade and Development (UNCTAD) Trade and Development Report 2022. India experienced an expansion of 8.2 per cent in 2021, the strongest among G20 countries. As supply chain disruptions eased, rising domestic demand turned the current account surplus into a deficit, and growth decelerated, the report said. It noted that the Production-Linked Incentive Scheme introduced by the government is incentivising corporate investment, but rising import bills for fossil energy are deepening the trade deficit and eroding the import coverage capacity of foreign exchange reserves. As economic activity is hampered by higher financing cost and weaker public expenditures, GDP .

Turkey's annual inflation hits new 24-year high at 83.45% in September

Turkey's annual inflation reached a new 24-year high of 83.45 per cent in September, according to official data on Monday, pushing the cost of essential goods higher and further hitting households already facing high energy, food and housing costs. The Turkish Statistical Institute said consumer prices rose by 3.08 per cent from the previous month. Experts say inflation is much higher than official statistics, and the independent Inflation Research Group on Monday put the annual rate at an eye-watering 186.27 per cent. Last month, Turkey's central bank delivered another interest rate cut, lowering the benchmark rate to 12 per cent despite rising prices, a plunging lira and an unbalanced current account. The lira has lost over 50 per cent of its value against the US dollar since the central bank began cutting rates last year. Russia's invasion of Ukraine and the lira's decline have stoked inflation. Economists say rising inflation in Turkey is fuelled by President Recep Tayyip ...

Service sector may be included in the Wholesale Price Index soon: Report

A government panel headed by Niti Aayog's Ramesh Chand is finalising the changes in the WPI to include 60 per cent of the economy for the first time

RBI plays out familiar script, more rate hikes to follow

In 2019, when retail inflation was 3%, the policy rate was 5.75%. Now inflation hovers around 7% and the policy rate is 5.9%. It needs to move up

Inflation may fall to 5.2% next fiscal on normal rains, supply ease: Report

Persistently high inflation remains a key policy concern for the Reserve Bank, which has raised rates aggressively so far this year, but the pressure might ease next fiscal assuming normal rains and further normalisation of global supply chains without any exogenous shocks, according to an RBI report. The Reserve Bank of India (RBI) expects retail inflation to come under control at 5.2 per cent in the next financial year beginning April, down from 6.7 per cent it has forecast for the current year. "For 2023-24, assuming a normal monsoon, a progressive normalisation of supply chains, and no further exogenous or policy shocks, structural model estimates indicate that inflation will average 5.2 per cent," RBI said in its 'Monetary Policy Report September 2022'. The central bank is mandated to keep retail inflation in a range of 2-6 per cent. However, inflation has been above the RBI's upper tolerance level since January 2022 mainly due to adverse supply shocks amid geopolitical tensio

Economy seen as sweet spot world over; inflation at manageable level: FM

Finance minister Nirmala Sitharaman on Saturday said inflation is at a manageable level. Her comments came a day after RBI hiked interest rate by 50 basis points to tame inflation. "Inflation is at a manageable level," she said here. On Friday, RBI retained its inflation projection for FY23 at 6.7 per cent amid geopolitical concerns triggered by Russia-Ukraine war, and expected inflation to be under control from January. The central bank is mandated to keep retail inflation in a band of 2-6 per cent. Inflation has remained above RBI's upper tolerance level of 6 per cent since January 2022. Last month, inflation touched 7 per cent. Speaking at the annual day function of regulator IBBI, Sitharaman, who is also the corporate affairs minister, said: "We are in an era of robust economic activities".

India Inc's credit rating upgrade momentum continues in first half of FY23

Profiles have adequate headroom to navigate the current challenges.

Higher rates to hit real estate and infrastructure projects, say experts

Worried that the rising rates will hit new projects, CEOs said new loans will cost more this increasing the cost of projects

RBI raises repo rate by 50 bps to 3-year high; FY23 GDP forecast cut to 7%

Inflation target retained at 6.7%; trajectory remains uncertain: Governor

Inflation seen staying above 4% in FY23, to average 5.2% in FY24: RBI

Das says RBI won't make public the communication on failure of achieving target to govt

Meta to cut headcount for first time, slash budgets across teams

Meta will likely be smaller in 2023 than it was this year, he said.