-The Telegraph Food inflation, which accounts for nearly half the CPI basket, soared 8.60% in September 2022 as against 7.62% in August Driven by rising food prices, India's retail inflation accelerated to 7.41% in September, the fastest pace in five months, data released by the National Statistical Office (NSO) showed on Wednesday. The number stayed well above the Reserve Bank of India's (RBI) upper tolerance band for the ninth straight month. This...
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High food prices push retail inflation to 5-month high of 7.41% in Sept -Asit Ranjan Mishra
-Business Standard IIP shrinks 0.8% in Aug - a first in 17 months In a double whammy for the Indian economy, the retail inflation rate shot up to a five-month high in September, while factory output contracted after a gap of 17 months in August. This could force the Reserve Bank of India (RBI) to hike the repo rate yet again in December. Data released by the National Statistical Office showed that consumer...
More »Heavy rains in India damage key crops ahead of harvest, threatening to stoke food inflation -Rajendra Jadhav
-Reuters/ThePrint.in State like UP has received 500% more rainfall than normal so far in October. Higher food prices could prompt India to slap additional restrictions on exports of food commodities. Mumbai: Heavy rainfall in India has damaged key summer-sown crops such as rice, soybean, cotton, pulses and vegetables just before harvesting, which could stoke food inflation in Asia’s third biggest economy, farmers, traders and industry officials said. Higher food prices could prompt New...
More »India’s retail inflation on steady rise on the back of high food prices, may inch up to 7.3% -Lalit Kumar
-Financial Express The numbers projected in Barclays report are the result of an uptick in prices of staples such as cereals, pulses, vegetables, spices, and dairy. As a result, the food inflation could rise to 8.5 per cent on-year in September, the report added. Buoyant food prices may drive India’s retail inflation to 7.3 per cent on-year in September – 30 basis points higher than that in August, according to a forecast...
More »Free grains, fuel tax deferred – Gujarat, HP on its mind, Modi govt puts politics over economy -Sharad Raghavan
-ThePrint.in RBI's rate hike also among decisions announced last week that might pay political dividends in state polls, but could come with commensurate economic costs, say economists. New Delhi: Is the Modi government prioritising political gain over much-needed economic prudence with an eye on crucial assembly elections coming up in Gujarat and Himachal Pradesh this year and more lined up the next? The answer seems to be yes, going by several critical decisions...
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