Page 15 - Latest Updates on Inflation
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")
Erratic rainfall, festive demand raised cost of veg thali 10% in November
The cost of a non-veg thali jumped 5% in November as compared to October: CRISIL's Roti Rice Rate index
 "Erratic rainfall, festive demand raised cost of veg thali 10% in November")
Travellers may now be able to buy onions, atta at major metro stations
If the plan is successful in Delhi, it may also be extended to other cities with metro networks like Chennai, Mumbai and Bengaluru
 "Travellers may now be able to buy onions, atta at major metro stations")
India's services PMI falls to 56.9 in November, lowest in 2023 so far
S&P Global said that the slowdown in services PMI was mainly owing to a slowdown in new orders as well as output across sectors
 "India's services PMI falls to 56.9 in November, lowest in 2023 so far")
MPC likely to hold repo rate for fifth time in a row, shows BS poll
Likely to revise FY24 growth forecast upward
 "MPC likely to hold repo rate for fifth time in a row, shows BS poll")
RBI to retain 6.5% rate as growth comfortable, inflation in check: Experts
India retained the tag of world's fastest-growing major economy, with its GDP expanding by a faster-than-expected rate of 7.6% in Jul-Sep quarter on booster shots from govt spending and manufacturing
 "RBI to retain 6.5% rate as growth comfortable, inflation in check: Experts")
World economy will slow in 2024 because of inflation, high rates, war: OECD
The OECD foresees US inflation dropping from 3.9% this year to 2.8% in 2024 and 2.2% in 2025, just above the Fed's 2% target level
 "World economy will slow in 2024 because of inflation, high rates, war: OECD")
S&P Global, Morgan Stanley peg India's GDP growth at 6.4% in 2024
Those at Goldman Sachs, on the other hand, see the Indian economy growing a tad lower at 6.3 per cent in the year ahead.
 "S&P Global, Morgan Stanley peg India's GDP growth at 6.4% in 2024")
New Zealand National Party forms coalition government with two parties
Christopher Luxon will replace the outgoing Labour Prime Minister Chris Hipkins, who held the role for a mere nine months
 "New Zealand National Party forms coalition government with two parties")
Russian consumers find themselves in a bind as high inflation persists
Russia's Central Bank has raised its key lending rate four times this year to try to get inflation under control and stabilize the ruble's exchange rate
 "Russian consumers find themselves in a bind as high inflation persists")
Turkey's central bank hikes rates again to tame eye-watering inflation
However, the bank said its rate hikes would soon end
 "Turkey's central bank hikes rates again to tame eye-watering inflation")
UK PM Rishi Sunak promises tax cuts after meeting his inflation pledge
Under pressure from within his traditionally low-tax Conservative Party, Sunak said his govt needed to prioritise lowering the tax burden
 "UK PM Rishi Sunak promises tax cuts after meeting his inflation pledge")
Far-right Milei wins Argentina presidential elections amid inflation rage
Provisional results so far show Milei with over 55 per cent of votes (13,781,154) with more than 94 per cent of votes counted
 "Far-right Milei wins Argentina presidential elections amid inflation rage")
Increase in gas prices drives short-term inflation to 42% in Pakistan
The Pakistan Bureau of Statistics (PBS) said the inflation reading stood at 41.9 per cent for the week ending November 16
 "Increase in gas prices drives short-term inflation to 42% in Pakistan")
Food inflation remains above comfort level, despite easing of CPI: Official
Food inflation, which accounts for nearly half of the overall consumer price basket, was 6.61% in October
 "Food inflation remains above comfort level, despite easing of CPI: Official")
Rishi Sunak hits inflation target amid Suella Braverman's scathing attack
We have halved inflation, meeting the priority I set out in January, said Sunak in a statement
Nine states record higher inflation rates compared to national average
Among the advanced economies, only the UK has recorded higher prices compared to India
 "Nine states record higher inflation rates compared to national average")
Rupee little changed as RBI support aids, inflation data in focus
While state-run banks were supplying dollars in the spot market even on Monday, traders said it was difficult to ascertain whether it was for their clients or for the RBI
 "Rupee little changed as RBI support aids, inflation data in focus")
FMCG industry logs 8.6% volume growth in Q2 on easing inflation: NielsenIQ
When inflation was at a record high, the FMCG industry had a high price-led growth in the last 5-6 quarters, though the volume was under stress
 "FMCG industry logs 8.6% volume growth in Q2 on easing inflation: NielsenIQ")
Bonds are looking attractive and set to beat cash, says Goldman Sachs
Goldman Sachs strategists see 10-year Treasury yields at around 4.6 per cent over the next 12 months, just below their current level after this week's sharp fall
 "Bonds are looking attractive and set to beat cash, says Goldman Sachs")
