An outgoing member of the Reserve Bank of India’s interest-rate panel said there’s no evidence higher food costs are pushing up prices more broadly in the economy, a reason often cited by Governor Shaktikanta Das for keeping monetary policy tight. Jayanth Rama Varma — an academic whose four-year term as an external member on the … Read more
New Delhi: India’s July retail inflation slowed to 3.54%, its lowest in nearly five years, on the back of a sharp decline in food inflation, data released Monday showed. Economists struck a note of caution, pointing out that the drop was largely due to the base effect of high inflation last year and that it … Read more
When there are whispers and murmurs in some corridors about the need for re-evaluating the inflation targeting framework component, or tinkering with the yardstick of price pressures measurement, the message from the central bank governor was unequivocal: Don’t tamper. Apart from conveying his determination to bring inflation down to 4% as mandated by law, governor … Read more
CHRISTOPHER RUGABER, Associated Press Updated: Jun 12, 2024 / 07:58 AM CDT Unsold 2024 Colorado pickup trucks sit in a row outside a Chevrolet dealership Sunday, June 2, 2024, in Lone Tree, Colo. On Wednesday, June 12, 2024, the Labor Department issues its report on prices at the consumer level in May. (AP Photo/David Zalubowski) … Read more
Spot gold rallied sharply on Friday as traders looked past hotter than expected US inflation data to focus on possible rate cuts as the US economy, going by recent key macroeconomic data, is weakening. Spot gold closed with a gain of 1.55% at $2414 Friday. The yellow metal was up around 2.30% on the week. … Read more
Federal Reserve officials are about to get further confirmation that inflation progress has stalled, supporting what appears to be a shift in tone to keep interest rates higher for longer than previously anticipated. Policymakers’ preferred inflation gauge – the personal consumption expenditures price index – probably stayed elevated in March, according to data due in … Read more
New Delhi: Amid criticism over low rate of hike in MGNREGS wages, sources on Friday said the increase was calculated on the basis of Consumer Price Index for Agricultural Labour, which rose by around 7.7 per cent since last year. The Rural Development Ministry had notified new wage rates under the MGNREGS on Wednesday, with … Read more
Kolkata: The Reserve Bank of India believes that global interest rates may have peaked while achieving the inflational target looks like a prolonged journey. In India repeated food shocks are preventing the positive impact of falling core inflation from manifesting itself in lower Consumer Price Index, the central bank said in its state of the … Read more
New Delhi: Retail inflation for farm workers and rural labourers increased marginally to 7.71 per cent and 7.46 per cent in December compared to 7.37 per cent and 7.13 per cent, respectively, in November due to higher prices of certain food items. Food inflation stood at 9.95 per cent and 9.80 per cent in December … Read more
