Page 70 - Inflation

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

Sensex ends choppy day 337pts down; Nifty atop 17,600; banks dip, FMCG gain

CLOSING BELL: Sectorally, indices ended mixed with the Nifty FMCG index rising over 1 per cent, while the Nifty Bank, and Financial Services indices falling up to 1.4 per cent each

Bank of England poised for another big interest rate hike amid inflation

Britain's central bank is under pressure make another big interest rate hike Thursday, with inflation outpacing other major economies but the U.S. Federal Reserve and other banks acting more aggressively to get prices under control. The Bank of England hiked its benchmark rate last month by half a percentage point to 1.75%, the biggest increase in 27 years, and it's expected to at least match that in its latest decision, which was delayed a week during the mourning period for Queen Elizabeth II. Faced with a slumping currency, tight labor market and inflation near its highest in four decades, officials may feel the need to act more aggressively as rising food and energy prices fuel a cost-of-living crisis that is considered the worst in a generation. But giving pause could be economic relief measures from new Prime Minister Liz Truss' government that are expected to ease inflation short term. The meeting will tell us not only how worried policymakers are about the slide in sterling

Amid economic crisis, Sri Lanka's inflation rate jumps to 70.2%

Amid the worst-ever economic crisis since the country gained independence in 1948, Sri Lanka's inflation rate jumped to 70.2 per cent in August, official data revealed on Thursday.

Fallen Rajapaksas back Wickremesinghe as Lanka's creditors seek answers

Much has changed since demonstrators drove Gotabaya Rajapaksa from office in July, the climax of months of protests after record-high inflation and depleted currency reserves bankrupted the nation

Gap widens between US, India on interest rate hikes since pandemic low

US has hiked rates by 75 basis points on Wednesday to help keep inflation in check

ADB cuts FY23 GDP forecast for India to 7% citing sluggish global demand

Earlier forecast was 7.2%; institution says high inflation is another growth hurdle, cut FY24 forecast to 7.2% from 7.8%

'Investors are building all data points into their market assessment'

Ajay Argal of Franklin Templeton believes that any change in stance to lower the pace or the quantum of rate hikes could provide an interim positive trigger for the markets.

High inflation in sight, Fed to signal more rate hikes ahead: Powell

Last month, when Federal Reserve Chair Jerome Powell spoke at an economic conference in Jackson Hole, Wyoming, he issued a blunt warning: The Fed's drive to curb inflation by aggressively raising interest rates, he said, would bring some pain" for Americans. When the Fed ends its latest meeting on Wednesday and Powell holds a news conference, Americans will likely get a better idea of how much pain could be in store. The central bank is expected to raise its key short-term rate by a substantial three-quarters of a point for the third consecutive time. Another hike that large would boost its benchmark rate which affects many consumer and business loans to a range of 3 per cent to 3.25 per cent, the highest level in 14 years. Many Fed watchers, though, will be paying particular attention to Powell's words at a news conference afterward. His remarks will be parsed for any hint of whether the Fed expects to moderate its rate hikes in the coming months or instead to continue tighteni

Indian govt 'in no hurry' on medium-term inflation target: Report

India's government is in no hurry to push inflation, now hovering near 7% and eight-year highs, back to the central bank's 4% medium-term target for fear that aggressive rate hikes could hurt growth

TMS Ep264: End of pandemic, Apple, global equities, Goldilocks scenario

Is the end of the pandemic in sight for India? What is the significance of Apple's 'Make in India' push? Is it time to diversify to global equities? What is Goldilocks scenario? All answers here

What is Goldilocks scenario?

The US Fed is unlikely to breathe easy till the inflation is brought under control. It wants to pull-off a return to 'Goldilocks' while steering clear of recession. What is the Goldilocks scenario?

Time to diversify to global equities as central banks frontload rate hikes?

Though the recent rally in domestic equities has turned the markets expensive relative to peers, analysts still suggest investors focus on Indian equity markets

Slowdown in West, on balance, would be positive for India: CEA Nageswaran

'Signs are very encouraging' are for the Indian economy, he says in an interview

Wall Street drops 1% with all eyes on Fed policy decision on Wednesday

The benchmark US 10-year Treasury yield hit 3.58%, its highest level since April 2011; Ford sees additional $1 bn in inflationary costs, shares fall

Gold prices slip on strong dollar as markets await big Fed rate-hike

Spot gold fell 0.5% to $1,667.33 per ounce by 1224 GMT, snapping two consecutive sessions of gains.

Companies should brace for continued or higher inflation: HUL CEO Mehta

Businesses need to be prepared for possibilities of a continued or higher inflation and deflation of commodity prices in next 2-3 years, Hindustan Unilever CEO and MD Sanjiv Mehta said on Tuesday. The unprecedented inflation is not homegrown but has been caused by several global factors, including supply chain disruption due to the pandemic and Ukraine-Russia war, he said while speaking at the FICCI LEADS 2022 event here. "It is very difficult to predict but I think where we have to be ready with is possible three scenarios in the world today," Mehta said when asked about his thoughts on the possibility of inflation coming down in the near future. One possibility is, he said, "the inflation or a slight deflation will continue at a moderated pace from the elevated base today. The second is it could go up even further and the third is there could be a deflation in commodity prices." "This is a horizon I'm looking at for the next two, three years and as businesses, we have to be ready

World stocks muted, Sweden kicks off salvo of central banks' rate hikes

Sweden's central bank hiked rates by a greater than expected full percentage point on Tuesday and warned of more to come.

Does a ban on commodities futures trading help govt solve inflation woes?

Futures trading in commodities has been banned at the drop of a hat despite numerous past committees and panels finding no direct linkage between such trading and price rise