Page 4 - Retail Inflation

Retail inflation for industrial workers eases to 3.86% in May: Govt

Retail inflation for industrial workers eased to 3.86 per cent in May compared to 4.42 per cent in the same month a year ago. The Consumer Price Index-Industrial Workers (CPI-IW) was 3.87 per cent in April 2024, a labour ministry statement said. According to the statement, year-on-year inflation for May 2024 moderated to 3.86 per cent against 4.42 per cent in May 2023. The All-India CPI-IW for May 2024 increased by 0.5 points and stood at 139.9 points. It was 139.4 points in April 2024. The food and beverages group increased to 145.2 points in May from 143.4 points in April this year. The fuel & light segment dipped to 149.5 points in May from 152.8 points in April 2024. The Labour Bureau, an attached office of the Ministry of Labour & Employment, has been compiling the Consumer Price Index for Industrial Workers every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country.

Govt buys 71K tons of onion for buffer stock; expects retail prices to ease

The government has bought nearly 71,000 tonnes of onion so far this year for buffer stock, out of the total target of procuring 5 lakh tonnes for price stabilisation and it expects retail prices to ease with the progress of monsoon over most parts of the country. According to data compiled by the department of consumer affairs, the all-India average onion retail prices stood at Rs 38.67 per kg on Friday, while the modal price was Rs 40 per kg. Till June 20th, the Centre has procured 70,987 tonnes of onion, as against 74,071 tonnes procured in the same period last year, a senior official in the department of consumer affairs said. "The pace of onion procurement for price stabilisation buffer this year is largely comparable with last year, despite about 20 per cent decline in estimated rabi production," the official said, adding that the government is on course to achieve targeted procurement of 5 lakh tonnes for price stabilisation. The government will exercise the option of holding

Easing inflation no respite for people's financial woes: Kantar report

Rural market 'bright spot' for consumer goods products, says consumer research firm

Retail inflations for agricultural, rural workers remain almost flat in May

Retail inflation for agricultural labourers and rural workers remained almost flat at 7 per cent and 7.02 per cent, respectively, in May as against the two comparative figures of 7.03 per cent and 6.96 per cent a month ago. The corresponding figures in May 2023 were 5.99 per cent for CPI-AL (Consumer Price Index-Agricultural Labourers) and 5.84 per cent for CPI-RL (Consumer Price Index-Rural Labourers), a labour ministry statement said. According to the statement, the point-on-point inflation rate based on CPI-AL was recorded at 7.00 per cent in May 2024, showing a deceleration from 7.03 per cent in April this year. Conversely, it stated that for CPI-RL, the inflation rate was recorded at 7.02 per cent in May 2024, a marginal increase from 6.96 per cent in the preceding month. The All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) registered an increase of 6 points each in May 2024, reaching levels of 1,269 and 1,281, respectively. The

Retail inflation steadily easing, food prices still a concern: RBI bulletin

Retail inflation is gradually easing, but volatile and elevated food prices are interrupting the path of disinflation, the RBI Bulletin said on Wednesday. An article on the "State of the Economy", published in the June 2024 Bulletin, said global growth was resilient in the first quarter of 2024, and many central banks have pivoted towards a less restrictive monetary policy stance in response to the fall in inflation in their economies. In India, high-frequency indicators suggest the real GDP growth in Q1 FY2024-25 is broadly maintaining the pace it achieved in the preceding quarter. Also, the prospects for agriculture are brightening with the early landfall of the southwest monsoon, said the article authored by a team led by Reserve Bank deputy governor Michael Debabrata Patra. "Headline inflation is gradually easing, driven by sustained softening of its core component, although the path of disinflation is interrupted by volatile and elevated food prices," the authors said. The RB

Some progress on inflation but just one rate cut this year likely: Fed

Federal Reserve officials said on Wednesday that inflation has fallen further toward their target level in recent months but signalled that they expect to cut their benchmark interest rate just once this year. The policymakers' forecast for one rate cut was down from a previous forecast of three, likely because inflation, despite having cooled in the past two months, remains persistently elevated. In a statement issued after its two-day meeting, the Fed said the economy is growing at a solid pace, while hiring has remained strong. The officials also noted that in recent months there has been modest further progress toward its 2 per cent inflation target. That is a more positive assessment than after the Fed's previous meeting May 1, when the officials said there had been a lack of further progress" on inflation. The policymakers, as expected, kept their key rate unchanged at roughly 5.3 per cent. The benchmark rate has remained at that level since July of last year, after the Fed .

Retail inflation eases to a 12 month low in May, IIP slows in April

IIP growth moderated during April as manufacturing growth decelerated to 3.9 per cent from 5.76 per cent in March

Retail inflation eases marginally to 1-year low of 4.75% in May: Govt data

Retail inflation eased to a one-year low of 4.75 per cent in May as prices of some kitchen items declined marginally, according to government data released on Wednesday. The Consumer Price Index (CPI) based retail inflation was 4.83 per cent in April 2024 and 4.31 per cent in May 2023 (previous low). Inflation in the food basket was 8.69 per cent in May, marginally down from 8.70 per cent in April, according to the data released by the National Statistical Office (NSO). Headline inflation has seen sequential moderation since February 2024, albeit in a narrow range from 5.1 per cent in February to 4.8 per cent in April 2024. The government has tasked the Reserve Bank to ensure the CPI inflation remains at 4 per cent with a margin of 2 per cent on either side. Earlier this month, the RBI projected the CPI inflation for 2024-25 at 4.5 per cent, with Q1 at 4.9 per cent, Q2 at 3.8 per cent, Q3 at 4.6 per cent, and Q4 at 4.5 per cent. The central bank mainly factors in the retail infla

Retail inflation for industrial workers declines to 3.87% in April

Retail inflation for industrial workers eased to 3.87 per cent in April compared to 4.2 per cent in March this year. Ministry of Labour and Employment has released Consumer Price Index-Industrial Workers (CPI-IW) for February, March & April, 2024 on Friday. "Year-on-year inflation for the month of March, 2024 stood at 4.20% as compared to 5.79 % in March, 2023," a labour ministry statement said. According to the statement, year-on-year inflation for the month of April, 2024 stood at 3.87 per cent as compared to 5.09 per cent in April, 2023. Year-on-year inflation for the month of February, 2024 stood at 4.90 per cent as compared to 6.16 per cent in February, 2023. The Labour Bureau, an attached office of the Ministry of Labour & Employment, has been compiling Consumer Price Index for Industrial Workers every month on the basis of retail prices collected from 317 markets spread over 88 industrially important centres in the country. The indices for the months of February, 2024, .

BOJ to proceed cautiously with inflation targeting frameworks: Ueda

'While many of the challenges we face are similar to those encountered by our counterparts, some are uniquely difficult for us,' the BOJ chief added

Over dozen states have higher inflation than national avg of 4.83% in April

The cost of living rose faster in 13 states in the last month compared to the national print of 4.83 per cent. Odisha registered the highest rate of inflation among the states at 7.11 per cent

Retail inflation eases to 4.83% in April, surge in food prices continues

Retail inflation eased to 4.83 per cent in April as prices of some kitchen items declined, according to government data released on Monday. The Consumer Price Index (CPI) based retail inflation was 4.85 per cent in March. It was 4.7 per cent in April 2023. Inflation in the food basket was at 8.70 per cent in April, marginally up from 8.52 per cent in March, according to the data released by the National Statistical Office (NSO). The government has tasked the Reserve Bank to ensure inflation remains at 4 per cent, with a margin of 2 per cent on either side. According to the Reserve Bank, which factors in consumer inflation while arriving at its bi-monthly monetary policy, food price uncertainties continue to weigh on the inflation trajectory going forward.

Consumer price inflation likely to eased at 4.8% in April: Reuters poll

While headline inflation has moderated in recent months, food prices, which account for nearly half the consumer price index (CPI) basket, have remained elevated, squeezing household budgets

March retail inflation eases to 10-mth low of 4.85%; IIP grows 5.7% in Feb

But remains well above RBI's 4 per cent target

Retail inflation eases to 4.85% in March, IIP grows 5.7% in February

The government has tasked the Reserve Bank to ensure inflation remains at 4%, with a margin of 2 per cent on either side

RBI MPC: Indian bond yields expected to be steady ahead of announcement

Das stressed that RBI may consider rate cuts only once retail inflation eases towards the RBI's 4% target on a sustainable basis

Inflation still high and focus on minimising risk, says RBI report

Indicates 'significant per capita income shifts' underway

Stubbornly high food prices slowing drop in inflation to 4%: RBI bulletin

Food price pressures is an obstacle in swifter fall in retail inflation to the Reserve Bank's target of 4 per cent, said an article on the 'State of Economy' in the central bank's March Bulletin published on Tuesday. Retail inflation based on Consumer Price Index (CPI) is on a decline since December and was at 5.09 per cent in February. "Even as inflation is on the ebb with broad-based softening of core inflation, the repetitive incidence of short amplitude food price pressures deters a swifter fall in headline inflation towards the target of 4 per cent," said the article authored by a team lead by RBI Deputy Governor Michael Debabrata Patra. It further said the global economy is losing steam, with growth slowing in some of the most resilient economies and high frequency indicators pointing to further levelling in the period ahead. In India, real GDP growth was at a six-quarter high in the third quarter of financial year 2023-24, powered by strong momentum, robust indirect taxes, a

Costlier food keeps retail inflation elevated in Feb; Jan IIP growth eases

Madan Sabnavis, chief economist, Bank of Baroda, said inflation in February was purely a food-driven phenomenon, which would continue to pressure prices in the coming months

CPI-based inflation eases to 5.09% in Feb; Jan IIP growth at 3.8%

Food and beverage recorded an inflation of 8.66 per cent vs 8.3 per cent in January 2024