India’s retail inflation rate increased to 6.21% annually in October, up from 5.49% the previous month, driven primarily by high food prices during the festive season. This was the first time since August 2023 that inflation exceeded the Reserve Bank of India (RBI)’s tolerance threshold of 6%. In September, inflation exceeded the RBI’s medium-term target … Read more
Mumbai: The Reserve Bank of India (RBI) is seen keeping interest rates unchanged this week as the central bank’s Monetary Policy Committee (MPC) is likely to assess the durability of recent declines in inflation while keeping a wary eye on escalating tensions in West Asia, which pose risks to local price pressures. According to an … Read more
The cost of homecooked vegetarian thali showed a significant decline in the month August after prices for key ingredients, such as tomatoes, vegetable oil, and spices, reduced as compared to previous months this year. According to Crisil’s Roti Rice Rate index, the price of vegetarian (veg) thalis dropped by 8 per cent year-on-year (Y-o-Y), while … Read more
New Delhi: Former World Bank chief economist Kaushik Basu on Saturday said India needs to tame inflation that disproportionately affects people who spend a large chunk of their income on food and could exacerbate inequality. “Even if inflation is at 5.1%, food inflation is at 30%. For someone spending 50% of their income on food, … 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
Food inflation in India has been around 8 per cent year-on-year since November 2023, with no signs of easing despite the early arrival of monsoon rains and forecasts of above-normal rainfall. This persistent inflation has kept the headline inflation above the central bank’s target of 4 per cent. Impact of Heatwave on Food Supplies A … Read more
Farmers and the industry expect the new government to increase import duty on cooking oils to support soyabean prices, remove export duty on onions, and take cautious stand on the demand for import of maize and wheat. Inspired by the onion farmers, others have started demanding policy measures to support soyabean and milk prices.“Soyabean prices … Read more
New Delhi: Retail inflation for farm workers and rural labourers increased marginally to 7.71 per cent and 7.46 per cent in December compared to 7.37 per cent and 7.13 per cent, respectively, in November due to higher prices of certain food items. Food inflation stood at 9.95 per cent and 9.80 per cent in December … Read more
Retail inflation for farm workers rose to 7.37 per cent and that for rural labourers climbed to 7.13 per cent in November, mainly due to higher prices of certain food items. Retail inflation in October was 7.08 per cent and 6.92 per cent for farm workers and rural labourers, respectively, according to an official statement. … Read more
The recent spike in tomato prices has been driven by a raft of factors, including crop seasonality and heavy monsoon downpours, and the government has taken a series of steps to address inflationary pressure in essential commodities, finance minister Nirmala Sitharaman told Parliament on Monday. In a written reply in the Lok Sabha, the minister … Read more