Page 14 - Latest Updates on Inflation
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")
Centre extends import duty exemption on tur, urad dal to March 2025
Prices of pulses have seen an inflation of 20 per cent in November. Recently, the Centre had also extended the import duty exemption for masur dal by one year to March 2025
 "Centre extends import duty exemption on tur, urad dal to March 2025")
Govt hopeful of 'bountiful harvest' amid food inflation headwinds
Besides, the government subsidised the sale of a few commodities to improve domestic supply and arrest the sharp spikes in retail prices of wheat, rice, edible oils, pulses, tomato, and onion
 "Govt hopeful of 'bountiful harvest' amid food inflation headwinds")
Consumers find relief from boiling oil prices in 2023 even after CPI rises
According to data by Bizom, prices of edible oils ranged from a fall of 13.3 per cent to 30.2 per cent in November this year compared to last year
 "Consumers find relief from boiling oil prices in 2023 even after CPI rises")
Inflation to ease to 4.6% in the first three quarters of 2024-25: RBI
The RBI bulletin released on Wednesday said that global growth continues to remain fragile and may slow down further in 2024
 "Inflation to ease to 4.6% in the first three quarters of 2024-25: RBI")
India tops remittances table with $125 bn inflows: World Bank report
Inflation declining and strong labour markets in high-income source countries boosted transfers by highly skilled Indians, it says
 "India tops remittances table with $125 bn inflows: World Bank report")
WPI inflation in Nov at 0.26%, returns to positive territory after 7 months
The rise in WPI inflation was led by food inflation. The index in this category rose steeply by 4.69% in November as compared to 1.07% in October
 "WPI inflation in Nov at 0.26%, returns to positive territory after 7 months")
Louis Dreyfus eyes deeper engagement with agritech startups: Sumeet Mittal
Inflation in 2023-24 and 2024-25 won't be as impactful as it was last year
 "Louis Dreyfus eyes deeper engagement with agritech startups: Sumeet Mittal")
Modi's guarantee is guarantee of inflation: Cong slams over sky high prices
Congress general secretary Jairam Ramesh alleged that Prime Minister Narendra Modi has completely failed to control inflation and they keep raising various issues to hide this "failure"
 "Modi's guarantee is guarantee of inflation: Cong slams over sky high prices")
US inflation likely cooled again last month as Fed prepares to assess rates
Tuesday's inflation report from the Labour Department is expected to show that businesses kept overall prices unchanged for a second straight month.
 "US inflation likely cooled again last month as Fed prepares to assess rates")
India's potential economic growth rate likely now at 7%, estimates Axis
An economy that's growing faster than its potential would generally result in bottlenecks in supply, causing inflation to accelerate and putting pressure on the central bank to hike interest rates
 "India's potential economic growth rate likely now at 7%, estimates Axis")
Inflation now stable, temporary rises due to demand-supply mismatches: FM
The minister said retail inflation in India has been mostly within acceptable limits after the notification of the inflation tolerance band in 2016
 "Inflation now stable, temporary rises due to demand-supply mismatches: FM")
No plans to loosen rates, no complacency on inflation fight: RBI governor
Das said, "The primary objective of the monetary policy, as prescribed in the law, is ensuring price stability that's by maintaining inflation at 4% target for a durable time"
 "No plans to loosen rates, no complacency on inflation fight: RBI governor")
World food price index unchanged in November, says UN food agency
The Food and Agriculture Organization's (FAO) price index, which tracks the most globally traded food commodities, averaged 120.4 points in November, 10.7% lower than last November
 "World food price index unchanged in November, says UN food agency")
RBI monetary policy: 5 key announcements from the governor's speech today
RBI monetary policy: Central bank raised the UPI payment limits for hospitals and educational institutions to Rs 5 lakh from Rs 1 lakh per transaction
 "RBI monetary policy: 5 key announcements from the governor's speech today")
RBI MPC keeps repo rate unchanged at 6.5% for 5th straight policy review
The central bank raised the GDP growth forecast for FY24 to 7% from 6.5%
RBI MPC: Repo rate kept unchanged at 6.5%, FY24 GDP estimate hiked to 7%
RBI MPC: Reserve Bank's Monetary Policy Committee decides to keep the repo rate unchanged at 6.5% and also keeps the FY24 inflation forecast unchanged at 5.4%
 "RBI MPC: Repo rate kept unchanged at 6.5%, FY24 GDP estimate hiked to 7%")
RBI set to retain hawkish pause on interest rates; keep liquidity tight
The swap markets are signalling that the Indian central bank will begin cutting rates in the middle of 2024, at least a quarter after the U.S. Federal Reserve is expected to start loosening policy
 "RBI set to retain hawkish pause on interest rates; keep liquidity tight")
Govt bans sugarcane juice, syrup for ethanol making in 2023-24 supply year
The decision by the ministry comes in the backdrop of estimated fall in sugar production in 2023-24 marketing year (October-September)
 "Govt bans sugarcane juice, syrup for ethanol making in 2023-24 supply year")
810 mn dependent on free foodgrains from govt due to inflation: Mayawati
Last month, the Central government extended the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) scheme to provide 5 kilograms of free foodgrains per month to 81.35 crore poor for another five years
 "810 mn dependent on free foodgrains from govt due to inflation: Mayawati")
