Page 4 - Wholesale Food Inflation

Indian rice exporter KRBL posts 28% profit drop in Q2 on weak demand

Consolidated net profit at the 'India Gate' basmati rice maker fell to 1.53 billion rupees ($18.37 million) for the quarter, from 2.13 billion rupees a year ago.

India's food price surge forces government measures to improve supplies

The measures could cumulatively cost the government over $12 billion, the government sources said

Tomatoes expected to become affordable as wholesale prices decline 30%

While tomatoes bring a sigh of relief, onion prices may be next in line to dig a hole in your pocket

Rupee depreciates 6 paise to 82.81 against US dollar in early trade

The rupee depreciated 6 paise to 82.81 against the US dollar in early trade on Tuesday as a negative trend in domestic equities and firm crude oil prices weighed on investor sentiments. Forex traders said the rupee is trading lower on strong dollar and foreign fund outflows over the past few days. At the interbank foreign exchange, the domestic unit opened at 82.80, then touched 82.81, registering a decline of 6 paise over its last close as the RBI monetary policy committee meeting begins on Tuesday. The policy decision will be announced on Thursday. On Monday, the rupee had settled 6 paise higher at 82.75 against the dollar. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.28 per cent to 102.33. Brent crude futures, the global oil benchmark, rose 0.12 per cent to USD 85.44 per barrel. Rupee is trading in a narrow range and volatility remained low ahead of the RBI policy statement that is scheduled to release later this

India rate panel to dial up hawkishness even as it holds policy steady

The MPC at its June policy meeting also reiterated its intent of nudging inflation towards its medium-term target of 4% and not just holding it below 6%

As tomato prices hurt, Uttarakhand residents cross into Nepal for shopping

Tomatoes are selling for upwards of Rs 120 per kg in India, whereas in Nepal, they cost Rs 100 to Rs 110 Nepali rupees which come at around Rs 70-75 per kg in Indian rupees

After denying rice to Karnataka, FCI struggles to find bidders in e-auction

Only private entities were eligible to participate in the auction

Easing inflation helps FMCG, retail register healthy sales growth in June

The footwear category grew as well but was not among the better-performing verticals with a year-on-year sales growth of 2-3% in May

Why not pass benefits to people despite negative WPI: Cong to Centre

The Congress on Friday questioned the Centre that despite a negative wholesale price Index (WPI), why wasn't the people benefiting out of it

Sri Lanka economy shows 'tentative signs of improvement', says IMF

Sri Lanka's bankrupt economy has shown "tentative signs of improvement," a top IMF official has said, underlining that this reform momentum must continue under strong ownership by both the authorities and the Sri Lankan people. These remarks were made by International Monetary Fund Deputy Managing Director Kenji Okamura on Thursday at the end of his two-day official visit to the debt-trapped island nation. Sri Lanka's economy is showing tentative signs of improvement, in part due to the implementation of critical policy actions. But the economic recovery remains challenging. Now, more than ever, it is essential to continue the reform momentum under strong ownership by both the authorities and the Sri Lankan people, he said in a statement. Okamura's visit followed the approval on March 20, 2023, by the IMF Executive Board of 48-Month arrangements of about USD 3 billion under the Extended Fund Facility (EFF) with Sri Lanka. He said the current economic crisis has its genesis in polic

Core inflation still remains elevated, may not fall below 5% in FY24

The core inflation has remained stuck in the range of 5-6.6 per cent for over two years

Greek Inflation impacting coffee cups, people cutting consumption

Meeting over a cup of coffee has long been an integral part of Greek culture. However, the inflationary pressure of the past year has forced 54 per cent of people to cut back on their caffeine habit

At 3.85%, India's wholesale inflation falls to lowest since January 2021

Earlier on Monday, the government data showed that the Consumer Price Index (CPI)-based inflation was at 6.44% in February

MVA members protest against LPG price hike in the legislature complex

Legislators of the Maha Vikas Aghadi (MVA) on Thursday staged a protest in the Maharashtra legislature complex against the hike in cooking gas price and demanded its rollback. The cooking Liquefied Petroleum Gas (LPG) price was on Wednesday was hiked by Rs 50 per cylinder. Members of the MVA, which comprises the Nationalist Congress Party, Congress and the Shiv Sena (Uddhav Balasaheb Thackeray), stood on the stairs of the Vidhan Bhavan on Thursday and shouted slogans against the state Eknath Shinde-BJP government, accusing it of hurting the interests of the common man and farmers. Since the time this government has come to power, the common man's household budget has collapsed. The electricity connections of farmers are being cut, they claimed. The budget session of the state legislature is currently underway. Following the price hike, a 14.2-kg LPG cylinder in Delhi now costs Rs 1,103, up from Rs 1,053, according to a price notification of state-owned fuel retailers. State-owned

Sri Lanka's key inflation rate eases to 50.6% in February: Colombo CPI

(Reuters) -Sri Lanka's key inflation rate eased to 50.6% in February from 51.7% in January, the statistics department said on Tuesday, as food prices eased

Government affirms its number, says no 'overestimation' in retail inflation

A number of economists had pointed out that January's retail inflation data may have been overestimated by 23 basis points owing to a variation in the price index for cereals

SBI loans to get costlier as bank hikes key lending rate; Details here

Following the RBI MPC's repo rate hike earlier this month, many banks like Bank of Baroda, Bank of India, and Punjab National Bank have also hiked their key lending rates

Kerala Budget: Rs 2,000 cr to manage price rise, Rs 80 cr for the poor

Kerala Finance Minister K N Balagopal on Friday presented the Left government's budget for the fiscal 2023-24, allocating Rs 100 crore for welfare programmes and setting aside Rs 2,000 crore for tackling price rise, besides announcing a slew of initiatives for the infrastructure and higher education sector. Beginning the budget speech on a positive note, the Minister said the southern state has bravely overcome COVID challenges and finally returned to the path of growth and prosperity. Though the state's economy is facing challenges due to the financial policies of the Centre and its decision to impose cuts on its borrowing limit, Kerala is not in a debt trap, he said. Assuring that the financial constraints would not impact the welfare and social security schemes of the government, Balagopal said Rs 100 crore would be set aside for welfare development programmes in the budget. "A total of Rs 2,000 crore will be allocated for tackling price rise in the state," he said. The FM said

India's November wholesale inflation eases to 21-month low of 5.85%

WPI-based inflation remained below the double-digit mark for second consecutive month in November

India's WPI inflation eases to 8.39% in October from 10.7% in September

The index for manufactured products saw a decline of 0.42 per cent month-on-month (MoM) and the inflation in fuel and power category saw a fall of 1.65 per cent