Page 69 - Inflation

Reducing govt spending holds the key to fixing India's inflation worries

If the finance ministry wants private investment to revive, it must make things easy for it and resist the temptation to go on spending just because it can

Robust demand for luxury products exposes widening inequality in India

Consumer-goods makers are reporting robust demand for items priced nearly $2,000 in a nation where per-capita income is just a tad above that level

Rupee ends beyond 81 against dollar for the first time; lags EM peers

RBI may have sold around $1 bn, but experts see pace of intervention declining

Energy, inflation crises risk pushing big economies into recession: OECD

In a bleak report titled Paying the price of war, the Paris-based organisation noted that the conflict aggravated inflationary pressure when the cost of living was already rising quickly.

OECD, S&P keep India's economic growth forecasts unchanged for FY23

S&P noted that India's domestic recovery from Covid-19 would continue to support growth in FY23

Top headlines: Rupee at new low; Unilever CEO to quit end of next year

From rupee touching a new low to Unilever CEO quitting by end of next year; here are the top headlines this evening

Unilever CEO Alan Jope to retire at end of 2023 after GSK setback

Jope, a long-term veteran of the consumer goods company, will leave after only five years in the role, with no named successor currently in place

S&P projects India's FY23 GDP growth at 7.3%, pegs inflation above 6%

S&P Global Ratings on Monday projected India's economic growth at 7.3 per cent in the current fiscal with downside risks and said inflation is likely to remain above RBI's upper tolerance threshold of 6 per cent till the end of 2022. In its Economic Outlook for Asia Pacific, S&P said India's growth next year will get support from domestic demand recovery after the coronavirus pandemic. "We have retained our India growth outlook at 7.3 per cent for the fiscal year 2022-2023 and 6.5 per cent for the next fiscal year, although we see the risks tilted to the downside," it said. Other agencies have cut India's GDP growth forecast amid higher inflation and rising policy interest rates. Earlier this month, Fitch Ratings slashed the growth estimate to 7 per cent for the current fiscal from 7.8 per cent pegged earlier. India Ratings & Research too had reduced its projections to 6.9 per cent from 7 per cent earlier. Asian Development Bank has cut the projection to 7 per cent from ...

India's gold demand may cross China's: World Gold Council's John Reade

In a Q&A, the council's Global Chief Market-Strategist said the price of gold will face headwinds in the near future

Don't equate fun with money: Pichai tells staff in heated all-hands meet

He talked about the vexed issue of cost cuts, and indicated Google's culture could still be enjoyable, even if some things were taken away

Markets may remain volatile with selling bias: IIFL Securities chairman

In a Q&A, R Venkataraman says the markets seem to be hoping against hope that rate hikes will not need to be sharp going ahead so as to trigger a global recession

Rahul Gandhi slams Centre over issues of price rise, unemployment

Congress leader Rahul Gandhi on Saturday attacked the Centre over the issues of price rise and unemployment, alleging that the BJP-led government is not for farmers, youth and women but for the five-six richest Indians. "PM often asks- '70 saal mein kya kiya?' We never gave India the highest-ever unemployment. We never gave India record price rise it faces today," Gandhi said in a tweet. "BJP govt is not a govt for farmers, youth & women. It's a govt for 5-6 richest Indians who are monopolising any business they want," he said. Gandhi and the Congress have been attacking the Centre over the issues of price rise and unemployment, alleging that the government's policies have worsened the economic situation of the country.

US economy may be entering 'new normal' after pandemic, says Jerome Powell

Powell and his colleagues are moving rapidly to reduce the highest inflation in nearly 40 years after being slow to spot the threat of broadening price pressures.

Inflation, social unrest challenge Bangladesh's 'miracle economy'

Experts say Bangladesh's predicament is nowhere nearly as severe as Sri Lanka's

Economist Roubini expects a 'long, ugly' recession, stocks sinking 40%

Roubini, who has warned through bull and bear markets that global debt levels will drag down stocks, said that achieving a 2% inflation rate without a hard landing is going to be "mission impossible"

Samajwadi Party boycotts UP assembly session, protests on varied issues

Main opposition Samajwadi Party on Friday boycotted the assembly session and staged a protest alleging the government failed to discuss raging issues of inflation and unemployment in the House. Led by SP chief Akhilesh Yadav, the party legislators staged a walkout soon after the House proceedings started on the last day of the five-day monsoon session and took out a march to the party headquarters. Rashtriya Lok Dal (RLD) MLAs also walked out of the assembly following their ally, Samajwadi Party. At the party office, Yadav told reporters that the government is trying to run away from discussing basic issues in the House by keeping the session for a shorter period. Samajwadi party, during the march alleged that the government has failed to discuss raging issues of inflation, unemployment, corruption and poor law and order due to the short duration of the monsoon session. Jayant Chaudhary led RLD has eight MLAs in the 403-member Uttar Pradesh assembly presently. This protest march

Microsoft CEO confident about Activision deal approval, handling of economy

Nadella said the company will keep growing in some areas after adding approximately 70,000 workers during the pandemic

Govt making efforts to keep inflation under 4%: Nirmala Sitharaman

Union Finance Minister Nirmala Sitharaman on Thursday said the government was making efforts to keep inflation under 4 per cent and steps were being taken to ensure people get essential goods at fair price and on time. Addressing a press conference near Pune city on the sidelines of a programme, she said steps were being taken to keep inflation at a certain level. Replying to a question on rising prices, the minister said, "As far as inflation is concerned, I have been answering questions (on the issue) in Parliament every time they have been raised. Steps were being taken to keep inflation at one level, for example, duty on imported edible oil is being removed so that affordable oil comes into the country." She said the issue of inflation should be understood in global context. "America is experiencing the kind of high inflation which was not witnessed in the last 40 years. Germany is facing high inflation which was not experienced in the last 38 years. We are taking efforts to ..

Sri Lanka's inflation jumps to 70.2% amidst worst-ever economic crisis

Sri Lanka's inflation surged to 70.2 per cent in August from 66.7 per cent a month ago as the island nation is grappling with the worst economic crisis, according to official data released on Thursday. The National Consumer Price Index (NCPI) which determines how much people spend on a selected basket of goods and services grew 2.5 per cent in August with food prices rising 1.7 per cent and non-foods rising 3.2 per cent. The non-food inflation surged to 57.1 per cent in August from 52.4 per cent in July as there was a sharp hike in electricity tariffs. However, the monthly prices eased to 3.2 per cent, from 6.7 per cent in July. The core prices measured, leaving the volatile items such as food, energy and transport accelerated in August to 60.5 per cent, from 57.3 per cent in July. According to official data, food prices have risen by 84.6 per cent, compared to 82.5 per cent in July while the changes in prices measured monthly, decelerated to 1.7 per cent, from 4.6 per cent in ...

Gold risks collapse into bear market as Federal Reserve targets inflation

Bullion's extended retreat -- with prices on course for a sixth consecutive monthly drop in September -- has driven prices close to bear-market territory