Consumer inflation dips to 6.71% in July as some commodity prices fall

NEW DELHI, Aug 12 (Reuters) – India’s consumer inflation dipped to 6.71% in July, easing for the third month in a row, helped by a slower increase in food and fuel prices and adding to expectations that the central bank may rein in the pace of its policy rate hikes next month. The year-on-year figure,… Continue reading Consumer inflation dips to 6.71% in July as some commodity prices fall

RBI will ensure soft landing of economy: Governor Das

Mumbai, Jul 22 (PTI) Reserve Bank of India Governor Shaktikanta Das on Friday said the central bank will ensure that the economy has a soft landing wherein inflation is closer to 4 percent, with minimal impact on growth. Das said retail inflation appears to have peaked and the Monetary Policy Committee (MPC) in its upcoming… Continue reading RBI will ensure soft landing of economy: Governor Das

India’s June WPI inflation stays above 15% in June, more rate hikes seen

NEW DELHI, July 14 (Reuters) – India’s annual wholesale price-based inflation kept above 15% in June, government data showed on Thursday, but the slight easing from the prior month’s three-decade high of 15.88% strengthens prospects for more rate hikes next month by the central bank. Economists say inflation, driven by higher global crude oil and… Continue reading India’s June WPI inflation stays above 15% in June, more rate hikes seen

India inflation likely held steady just above 7% in June – Reuters poll

Bengaluru, July 11 (Reuters): India’s retail inflation likely held steady in June, but well above the Reserve Bank of India’s tolerance limit for a sixth month as lower fuel and cooking oil prices offset higher services and food costs, a Reuters poll found. Despite a substantial recent increase in food prices, rising at the fastest… Continue reading India inflation likely held steady just above 7% in June – Reuters poll

India’s June factory growth at 9-month low as inflation worries bite

Bengaluru, July 1 (Reuters): India’s factory output expanded at its slowest pace in nine months in June as elevated price pressures continued to dampen demand and output, according to a private survey, which also showed business confidence was at its lowest in over two years. Although inflation eased in May to 7.04% after touching an… Continue reading India’s June factory growth at 9-month low as inflation worries bite

India aims to keep FY2023 fiscal deficit at last year’s level – sources

New Delhi/Mumbai, June 23 (Reuters): India’s government will not be able to cut its budget deficit this fiscal year as previously projected, officials said, but will seek to cap the shortfall at last year’s level to prevent a major deterioration in public finances. Efforts to maintain some fiscal discipline reflect New Delhi’s concern around risks… Continue reading India aims to keep FY2023 fiscal deficit at last year’s level – sources

UK inflation rate hits new 40-year high of 9.1%

LONDON (AP) — Britain’s inflation rate hit a new 40-year high of 9.1% in the 12 months to May, figures showed Wednesday, as Russia’s war in Ukraine drove food and fuel prices ever higher. The Office for National Statistics said consumer price inflation rose slightly from 9% in April, itself the highest level since 1982.… Continue reading UK inflation rate hits new 40-year high of 9.1%

Growth slowing but risk of stagflation in India low: Finance Ministry

New Delhi [India], June 20 (ANI): There is a “distinct possibility” of widespread stagflation in the world, but in India, the risk of stagflation is low as the country has adopted prudent stabilisation policies, said a report released by the Finance Ministry on Monday. As forecasts of real GDP growth across economies drop at regular… Continue reading Growth slowing but risk of stagflation in India low: Finance Ministry

Indian economy on path to recovery despite global headwinds, says RBI

MUMBAI, June 16 (Reuters) – The downside risks to global growth have accentuated the risk of commodity price-driven inflation turning more generalised but despite the global headwinds, India’s domestic macroeconomic conditions have continued to strengthen, its central bank said. “Domestic economic activity has been gaining traction in spite of formidable headwinds from external developments,” the… Continue reading Indian economy on path to recovery despite global headwinds, says RBI

India looks to rains, not just rates, to cool hot inflation

MUMBAI, June 15 (Reuters) – As India faces a crippling surge in food and fuel prices, its policymakers will be counting mostly on this year’s monsoon rains, not just interest rate hikes, to take inflationary pressure off the country’s households and businesses. Like its international peers, the Reserve Bank of India is expected raise rates… Continue reading India looks to rains, not just rates, to cool hot inflation