Here’s what you need to know about America’s super-hot inflation

The government reported Friday that consumer prices climbed 8.6% over the year through May, the fastest rate of increase in four decades. Americans are confronting more expensive food, fuel and housing, and some are grasping for answers about what is causing the price burst, how long it might last and what can be done to … Read more

Inflation forecast will drive rate action, says RBI governor Shaktikanta Das

The Reserve Bank of India is committed to containing inflation while keeping growth in mind, governor Shaktikanta Das told MC Govardhana Rangan and Bodhisatva Ganguli in an interview, during which he also spoke about borrowing, crypto and the reform agenda. Edited excerpts: You had said that the May 4 interest rate hike was the beginning … Read more

Shah reviving CAA to hide failure of not fulfiling poll promise: CPI(M)

Union Home Minister Amit Shah was reviving the issue of the contentious Citizenship Amendment Act (CAA) to hide the BJP‘s failure to give credence to its pre-poll promise of implementing it, the CPI(M) claimed on Friday. CPI(M) central committee member Sujan Chakraborty claimed that Shah’s reiteration that CAA will be implemented in West Bengal was … Read more

50% chance of RBI erring on inflation; likely post-poll fuel price revision key CPI risk: Nomura

NEW DELHI: At its monetary policy meeting earlier this month, the Reserve Bank of India made it clear that its priority lay in reviving economic growth sustainably, especially as the central bank expects elevated consumer prices to cool off in the second half of the next financial year. The RBI’s push to ensure the durability … Read more

Opposition parties support today’s Bihar Bandh call by youth groups

RJD, Congress, CPI, CPI-M and CPI-ML have extended support to a Bihar bandh on Friday called by AISA and other youth organisations in protest against alleged irregularities in stage 1 results of Railway Recruitment Board’s NTPC exams. AISA general secretary Sandeep Saurav told ET the committee formed by the railway ministry was a ‘conspiracy’ to … Read more

$10 barrel rise in crude to add 40-60 bps to CPI, CAD by 0.4 per cent of GDP: Report

Rising crude prices could derail most economic fundamentals besides putting a pressure on the currency and other markets. Though the direct impact on fiscal deficit is not expected to be significant. Estimates by economists at public sector lender- Bank of Baroda- shows that a 10 per cent increase in crude prices could add to retail … Read more

India’s retail inflation in November firms up to 4.91%

India’s benchmark inflation rate, measured by the Consumer Price Index (CPI) firmed up to 4.91% year-on-year in November on the back of a rise in vegetable prices, data released by the Ministry of Statistics and Programme Implementation on Monday showed. With this, the CPI has remained within the tolerance level of 2%-6% for the fifth … Read more

Supply side measures to help contain inflation

The Reserve Bank of India expects fiscal and other supply side measures like excise duty cuts to address inflation concerns though it expects inflationary pressure to build up through rise in input prices. Cost-push pressures continue to impinge on core inflation, though their pass-through may remain muted due to the slack in the economy, the … Read more

Q1 GDP at record high but short of expectations; bond market sees prolonged RBI accommodation

NEW DELHI: As the most battle-hardened treasury officials say, the vicissitudes of the bond market are hard to predict. Just three trading days ago, the yield on the 10-year benchmark 6.10 per cent, 2031 bond touched its highest ever intraday level of 6.26 per cent, as concerns over elevated inflation, tightening of global monetary policy … Read more

RBI policy: Has the central bank lost the plot in terms of communication?

NEW DELHI: When Consumer Price Inflation – RBI’s monetary policy anchor— rose to a six-month high of 6.30 per cent in, May equity and debt markets started preparing themselves for the obvious response from the central bank, whose mandate is the consumer price gauge – normalisation of policy. But RBI Governor Shaktikanta Das and Deputy … Read more