U.S. inflation rose to 3 percent in January, strengthening the case for the Federal Reserve to extend a pause on interest rate cuts. The Consumer Price Index unexpectedly ticked higher from a year earlier, data from the Bureau of Labor Statistics showed on Wednesday, up from 2.9 percent in December. Compared to December, consumer prices … Read more
Bond yields in Asia climbed after Federal Reserve Chair Jerome Powell signaled patience before cutting interest rates further and as investors look ahead to the upcoming CPI data. Treasuries fell across the curve on Tuesday, with money markets still fully pricing in one rate cut by the Fed this year. Australia’s 10-year yield rose six … Read more
Consumer prices rose more quickly in December, the latest sign that the Federal Reserve’s fight against inflation may have stalled. The Consumer Price Index rose 0.4 percent from November, and was up 2.9 percent from a year earlier, the Labor Department said on Wednesday. That represented a modest acceleration from November on both a monthly … Read more
New Delhi: Consumption inequality among rural and urban residents in India declined further in 2023-24 and non-food items continued to dominate average monthly expenses across the country, results of the latest Household Consumption Expenditure Survey (HCES) published Friday showed.The average estimated Monthly Per Capita Consumption Expenditure (MPCE) in rural India rose 9.2% to ₹4,122 in … Read more
DA hike: The Dearness Allowance (DA) for central government employees currently stands at 53% of the basic salary following the July 2024 revision. According to the rule, when the DA exceeds the 50% mark of the basic pay, specific allowances are automatically adjusted. This regulation ensures that employees’ additional expenses are taken into account amidst … Read more
Asian equities rose Thursday after US stocks set a fresh high ahead of inflation data that may define Federal Reserve policy easing in the coming months. Shares in Japan, South Korea and Australia climbed while Hong Kong equity futures also rose. An index of US-listed Chinese companies fell in New York trading, following the biggest … Read more
The dollar drifted sideways on Wednesday, giving some relief to the yen and other major currencies after a sharp rally to a seven-week high last week, as investors paused to assess the interest rate path outlook for the United States. The New Zealand dollar slumped to its lowest since Aug. 19 at $0.6096, after the … Read more
DA hike: The Centre is anticipated to make an announcement regarding the second hike in Dearness Allowance (DA) and Dearness Relief (DR) for employees and pensioners from July 2024 in September. It is estimated that the government led by Prime Minister Narendra Modi might sanction a 3% increase in DA and DR during this phase. … Read more
New Delhi: India‘s July retail inflation slowed to 3.54%, its lowest in nearly five years, on the back of a sharp decline in food inflation, data released Monday showed. Economists struck a note of caution, pointing out that the drop was largely due to the base effect of high inflation last year and that it … Read more
When there are whispers and murmurs in some corridors about the need for re-evaluating the inflation targeting framework component, or tinkering with the yardstick of price pressures measurement, the message from the central bank governor was unequivocal: Don’t tamper. Apart from conveying his determination to bring inflation down to 4% as mandated by law, governor … Read more