Page 13 - Latest Updates on Inflation
UK's ruling party chairman hints at tax cuts in March and later in year
Finance minister Jeremy Hunt is due to set out his fiscal plans in an annual budget statement scheduled for March 6
 "UK's ruling party chairman hints at tax cuts in March and later in year")
No hint of cuts as ECB keeps rates unchanged at record-high of 4%
Investors are betting that the ECB is getting it wrong on both growth and inflation and will be forced to U-turn and deliver five rate cuts in rapid succession from early spring
 "No hint of cuts as ECB keeps rates unchanged at record-high of 4%")
Inflation slows in New Zealand to its lowest rate since 2021, shows data
Stats NZ revealed the latest consumers price index (CPI) data had slowed to 4.7% across 2023, a significant drop from the 5.6% result in the year to September 2023.
 "Inflation slows in New Zealand to its lowest rate since 2021, shows data")
India to retain top economy title as govt spending stays strong: Poll
While inflation rose to the fastest pace in four months in December to 5.69 per cent, driven by pressures from food prices, economists expect that to fade soon
 "India to retain top economy title as govt spending stays strong: Poll")
BOJ signals conviction on hitting inflation target in hawkish tilt
BOJ Governor Kazuo Ueda gave no hints on whether the bank would pull short-term interest rates out of negative territory at its upcoming meetings in March or April, as many economists expect
 "BOJ signals conviction on hitting inflation target in hawkish tilt")
What does disruption to shipping in Red Sea mean for Europe's economy?
For the European economy, already skirting a mild recession as it tries to shake off high inflation, prolonged disruption would be a new risk to its outlook
 "What does disruption to shipping in Red Sea mean for Europe's economy?")
Inflation needs to align with target by 2nd quarter: RBI monthly bulletin
Report says priority for FY25 is to sustain growth momentum of at least 7%
 "Inflation needs to align with target by 2nd quarter: RBI monthly bulletin")
US import prices unchanged in December after two straight monthly decreases
Since March 2022, the Fed has raised its policy rate by 525 basis points to the current 5.25%-5.50% range
 "US import prices unchanged in December after two straight monthly decreases")
Economy likely to grow 7% in 2024-25, inflation to ease further: RBI Guv
He also credited the government for structural reforms undertaken in recent years, saying they have boosted the medium and long-term growth prospects of the Indian economy
 "Economy likely to grow 7% in 2024-25, inflation to ease further: RBI Guv")
Rates to stay higher, battle against inflation not yet over: IMF's Gopinath
Speaking at a session during the World Economic Forum Annual Meeting 2024 here, Gopinath dismissed the market bets for a cut in interest rates as premature
 "Rates to stay higher, battle against inflation not yet over: IMF's Gopinath")
Real, nominal GDP growth, inflation play out differently this time around
This happened because inflation, as viewed by GDP deflators, is expected to be quite lower than initially projected for first time, contrary to what had happened ahead of 3 previous interim Budgets
 "Real, nominal GDP growth, inflation play out differently this time around")
Nine states record higher inflation than India average, shows data
While the average Indian consumer's cost of living rose by 5.69 per cent compared to the previous year, it rose 8.73 per cent in Odisha, 7.07 per cent in Gujarat and 6.95 per cent in Rajasthan
 "Nine states record higher inflation than India average, shows data")
US consumer prices up more than expected in Dec, weekly jobless claims fall
The consumer price index (CPI) rose 0.3% last month after nudging up 0.1% in November, the Labor Department's Bureau of Labor Statistics said on Thursday
 "US consumer prices up more than expected in Dec, weekly jobless claims fall")
US small business sentiment up; labour, inflation worries persist
A net negative 25% of businesses reported improved profits in December, a 7 point increase from the month prior, with labor costs continuing to weigh on earnings, the report said
 "US small business sentiment up; labour, inflation worries persist")
UK economy to hit 2% inflation target by spring in upgraded outlook
A 1% cut in the basic rate of income tax in April would add another £4 billion this year, and a halving of the inheritance tax rate to 20% would be worth close to £1 billion more for 2024
 "UK economy to hit 2% inflation target by spring in upgraded outlook")
Inflation's pulse: Yellow peas imports to help potential chickpea shortfall
Advancements in pulses technology and its widespread adoption across India could help achieve self-sufficiency. For now, though, the hope is that matar will address the inflation matter
 "Inflation's pulse: Yellow peas imports to help potential chickpea shortfall")
Central theme of '24: Fight with inflation for growth
A rate cut will happen this year. When? It will depend on the growth-inflation dynamics as well as the US Fed action
 "Central theme of '24: Fight with inflation for growth")
India to be fastest-growing economy in 2024 after withstanding headwinds
The growth momentum is expected to sustain in the December quarter, making India the fastest-growing major economy in the world much ahead of China
Rahul Gandhi, Kharge identify unemployment, inflation as key problems
Cong picked Nagpur to mark its foundation day and launch its LS campaign, 'Hum Tayyar Hain', given the city's salience in shaping the ideological contours of the last hundred years of Indian politics
 "Rahul Gandhi, Kharge identify unemployment, inflation as key problems")
Rate impact, inflation decline: Axis MF forecasts 2024 as year of contrast
Citing the recent state election results, the note stated that the risks from the general election are low
 "Rate impact, inflation decline: Axis MF forecasts 2024 as year of contrast")
