CPI inflation stays well above the Reserve Bank of India's tolerance limit for sixth consecutive month
The government on Tuesday will release the key data on June retail inflation which will be factored by the Reserve Bank in its next bi-monthly monetary policy to be announced in early August.
The July 4-8 Reuters poll of 42 economists showed inflation as measured by the consumer price index (CPI) was steady at an annual 7.03% in June, versus 7.04% in May
Failure to keep inflation between 2-6% for three straight quarters will require RBI Governor to explain to FinMin why target was missed, and steps MPC will take to achieve it going forward
They say some measures have spawned malpractices on the part of exporters, others have been partial to a certain section of traders
Inflation in the food basket was 7.97% in May 2022, marginally lower than 8.31% in the previous month, as per the data released by the National Statistical Office
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RBI's monetary policy committee (MPC) is likely to decide on the exact rate hike on the basis of its inflationary expectations at that point of time. Read more in our top headlines
The Reserve Bank said in its annual report said there is a risk of high wholesale price inflation (WPI) putting pressure on the retail inflation, albeit with a lag
Economists expect 40-50 bps hike in repo rate by MPC next month
The consequences of such confused messaging were felt in the lack of bidders for BPCL, forcing Delhi to abandon efforts to privatise the refiner
The recent EV scooter fires were caused by defects in their batteries, including in the designs of the battery packs and modules, a DRDO report said. Read more in our top headlines.
In April, the wholesale food price index rose 8.9 per cent, while the consumer food price index rose 8.4 per cent
If India's wheat ban leads to higher price of substitutes like rice, then there could be upward pressure on other food prices
Companies have moved toward lighter loads in their cheapest packages amid rising costs of edible oils, grains and fuel
Factory output shows poor growth at 1.9% in March
The jump in CPI inflation has been long anticipated following the Central govt's decision to wait until after key state elections in March to hike fuel prices
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CLOSING BELL :: The S&P BSE Sensex opened gap-down and sunk 1,386 points intra-day to hit a low of 52,702 levels
For the RBI, a correct reading of its mandate would have been that the inflation target is 4%, not 6%. And action to raise interest rates should have begun last year, writes T N Ninan