Page 7 - Latest Updates on Inflation
Above normal monsoon in 2024 can ease pressure on food prices, says RBI
The report said that in the current economic landscape, several positive factors are contributing to a promising outlook
 "Above normal monsoon in 2024 can ease pressure on food prices, says RBI")
Silver outlook, June 26: Bias bearish; MCX Sept contract support at Rs 88k
Silver outlook and trading strategy today, June 26, 2024: Spot Silver, at the time of the MCX closing, was trading at $28.90, down 2.45 per cent for the day on Tuesday
 "Silver outlook, June 26: Bias bearish; MCX Sept contract support at Rs 88k")
India's inflation also K-shaped; villagers more hurt by price-rise: HSBC
Rural consumers are more impacted by price-rise than their urban counterparts, economists at HSBC said, adding it outstripped the urban segment by 1.1 percentage point in May
 "India's inflation also K-shaped; villagers more hurt by price-rise: HSBC")
Retail inflations for agricultural, rural workers remain almost flat in May
According to the statement, the point-on-point inflation rate based on CPI-AL was recorded at 7.00 per cent in May 2024, showing a deceleration from 7.03 per cent in April this year
 "Retail inflations for agricultural, rural workers remain almost flat in May")
BoE keeps key interest rate at 16-year high of 5.25% despite inflation fall
The Bank of England on Thursday kept its main interest rate at a 16-year high of 5.25 per cent, even though inflation has fallen to its target of 2 per cent.
 "BoE keeps key interest rate at 16-year high of 5.25% despite inflation fall")
Retail sales up 0.1% in May from Apr as still high inflation curbs spending
Excluding gas prices and auto sales, retail sales rose the same amount
 "Retail sales up 0.1% in May from Apr as still high inflation curbs spending")
US retail sales miss expectations in May; April data revised significantly
Inflation and higher interest rates are forcing households to prioritise essentials and cut back on discretionary spending
 "US retail sales miss expectations in May; April data revised significantly")
India must avoid 'adventurism', focus on bringing down inflation: RBI chief
The central bank kept the key repo rate unchanged at 6.5% for an eighth straight policy meeting earlier this month saying robust economic growth will give it space to focus on bringing down inflation
 "India must avoid 'adventurism', focus on bringing down inflation: RBI chief")
More central banks to add to their gold reserves within 12 months: Survey
Demand for gold from central banks has been elevated in the last two years as some countries diversify their foreign currency reserves
 "More central banks to add to their gold reserves within 12 months: Survey")
Stock Market Highlights, June 13: Sensex, Nifty end listless session with minor gains; VIX down 6%
Stock Market Highlights on June 13: The BSE Sensex ended 204 points higher (at 76,811), while the Nifty closed 76 points up (near 23,400)
 "Stock Market Highlights, June 13: Sensex, Nifty end listless session with minor gains; VIX down 6%")
US inflation broadly cools in encouraging sign for Federal Reserve
The so-called core consumer price index - which excludes food and energy costs - climbed 0.2% from April, Bureau of Labor Statistics figures showed
 "US inflation broadly cools in encouraging sign for Federal Reserve")
Fed likely to scale back plans for rate cuts as inflation persists
The Fed's rate policies typically have a significant impact on the costs of mortgages, auto loans, credit card rates and other forms of consumer and business borrowing
 "Fed likely to scale back plans for rate cuts as inflation persists")
Govt bond yields flattish with eyes on inflation data, US Fed guidance
The central bank will auction treasury bills worth Rs 12,000 crore ($1.44 billion) later in the day
 "Govt bond yields flattish with eyes on inflation data, US Fed guidance")
Pakistan cuts benchmark interest rate for first time in four years
The State Bank of Pakistan reduced the target rate by 150 basis points to 20.50 per cent, compared to a median estimate for a 100 basis point cut. Only two economists predicted the decision
 "Pakistan cuts benchmark interest rate for first time in four years")
Modi 3.0: Agri reforms, food inflation key challenges for new govt
Increased production of pulses, oilseeds, and cereals will help boost domestic supplies and contribute to keeping inflation low in the coming months
 "Modi 3.0: Agri reforms, food inflation key challenges for new govt")
In first in 3 months, Fed dot plot set to offer glimpse of rate-cut resolve
A 41 per cent plurality of economists expect the US Fed to signal two cuts in the closely watched dot plot, while an equal number expect the forecasts to show just one or no cuts at all
 "In first in 3 months, Fed dot plot set to offer glimpse of rate-cut resolve")
Retail inflation for industrial workers declines to 3.87% in April
"Year-on-year inflation for the month of March, 2024 stood at 4.20% as compared to 5.79 % in March, 2023," a labour ministry statement said
 "Retail inflation for industrial workers declines to 3.87% in April")
German central bank warns of inflation, lowers growth forecast for 2024
The warning from Europe's biggest economy is likely to reinforce expectations that interest rates can only come down slowly. Inflation has fallen from double-digit territory in late 2022
 "German central bank warns of inflation, lowers growth forecast for 2024")
RBI's Monetary Policy Committee second meeting of FY25 from June 5-7
A poll by Bloomberg revealed that economists expected the India's central bank to maintain the repo rate at 6.5 per cent for the eight consecutive time
 "RBI's Monetary Policy Committee second meeting of FY25 from June 5-7")
US inflation increases moderately in April, consumer spending slows
The personal consumption expenditures (PCE) price index increased 0.3% last month, the Commerce Department's Bureau of Economic Analysis said on Friday, matching the unrevised gain in March
