FOOD AND FUEL PRICES
Trump's support in rural America slips as fuel and food prices climb, Reuters/Ipsos poll shows
In a challenging political landscape, President Trump faces an uphill battle with rural Americans, whose approval ratings are slipping. The sharp rise in the costs of essentials like fuel and groceries is weighing heavily on their minds. Farmers, in particular, are caught in a bind with rising operational expenses and falling crop values.
Ethanol transition can shift to "Transport Energy Backbone" to shield India from oil shocks: KPMG
India's ethanol use is evolving beyond simple blending. It is set to become a key transport energy source. This will help manage fluctuating global fuel prices. An adaptive fuel system, varied distribution, and flex-fuel vehicles are crucial. This shift aims to enhance energy security and reduce reliance on external price volatility.
Charting the Global Economy: War pushes up prices, dents growth
The Iran war is fueling a global inflation wave, prompting the European Central Bank to raise interest rates for the first time in nearly three years.
Inflation seen at 5% in FY27, 50-75 bps rate hikes likely as food and fuel risks build: Report
Inflation is set to climb to 5.0 percent in FY27. Upside risks persist due to the West Asia conflict and a potential below-normal monsoon. ICICI Bank Global Markets anticipates policy rate hikes of 50-75 basis points. Food inflation is accelerating, with vegetables seeing a significant jump. Core inflation is also firming up. Energy prices are rising with global crude.
Weak monsoon may drag agri GDP into contraction
Indian agriculture is at a crossroads, facing significant hurdles in the coming years. Analysts project little to no growth for agricultural GDP in 2026-27, compounded by El Nino fears pushing farmers to adopt less water-reliant crops. While this could alleviate water scarcity, it risks diminishing farm income and curtailing rural consumer activity.
Why your summer tomatoes cost so much
Tomato prices have surged due to severe weather in Florida and Mexico. Consumers face higher costs for this summer staple.
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Inflation in June quarter likely to undershoot RBI forecast, rate hike probability drops ahead of monsoon risks
India's inflation is giving the Reserve Bank of India room to hold interest rates through the first quarter of fiscal year 2027. However, risks from food and fuel prices could change this outlook later in the year. The central bank will closely watch economic data before making any decisions on interest rates.
Retail inflation edges up to 3.9% in May
Economists expect price pressures to intensify further in June, driven by the continued pass-through of earlier increases in transport and cooking fuel costs amid continued supply disruptions due to the West Asia conflict.
India's retail inflation quickens to 3.93% in May amid high food & fuel prices
India's retail inflation rose to 3.93% in May. Food and fuel prices increased, impacting consumer costs. This marks the highest inflation reading under the new CPI series. Despite the rise, inflation stays below the Reserve Bank of India's 4% target for the 16th month. Policymakers have room to support growth.
Is India's economic growth real? Raghuram Rajan says something is off
Former RBI Governor Raghuram Rajan questions India's strong economic growth figures, citing weak corporate investment and declining foreign capital inflows. He argues these factors are difficult to reconcile with official data, suggesting a disconnect between headline numbers and business behavior. Rajan also highlights the lack of a clear economic roadmap and warns of vulnerabilities from the Middle East conflict.
Iran war puts Bangladesh’s nascent industrial dreams at risk
Bangladesh's economic growth is threatened by an energy shortage, leaving new industrial facilities idle. The country faces painful impacts from the Middle East conflict, leading to increased energy costs and power rationing. Businesses are investing in renewables and exploring domestic gas, but immediate challenges persist.
Not LPG, but sunlight is helping restaurant in Odisha cook and serve piping hot biryani even after sun goes down
An Odisha cafe is revolutionizing biryani preparation with a 100% solar-powered kitchen, even operating after sunset and on cloudy days. Developed by Indian scientists, this innovative system uses a solar coil and DC-powered induction, significantly reducing fuel costs and emissions. The technology, patented in 2024, offers an eco-friendly alternative to LPG.
US producer prices rose 6.5% in May on higher energy prices, largest yearly jump since November 2022
American producer prices saw their biggest jump since late 2022. Energy costs soared, impacting inflation significantly. This surge follows the Iran war and the closure of the Strait of Hormuz. Wholesale gasoline prices climbed sharply. Consumer prices also rose, exceeding the Federal Reserve's target. U.S. crude oil inventories are depleting. This situation could affect the refining system.
Fueling Demand: Inside India’s ethanol mobility revolution in reverse
India is launching an ambitious green mobility initiative. The country is establishing E100 fuel stations nationwide before flex-fuel vehicles become common. This strategy aims to reduce oil imports and boost the rural economy. Major automakers are now introducing flex-fuel cars and motorcycles. This rapid development marks a significant shift in India's energy landscape.
Gold slides 3% as Middle East escalation fuels inflation, rate-hike concerns
Gold prices dropped over 3% as escalating U.S.-Iran tensions fueled inflation and interest rate hike fears. Investors awaited key U.S. data, including the Producer Price Index, to gauge the Federal Reserve's monetary policy. Despite recent consolidation, inflation and central bank buying continue to support gold.
China's factory inflation hits 3-year high as energy costs surge
China's producer inflation rose to a near three-year high of 3.9% in May, driven by higher energy costs and AI-related demand, while consumer inflation stayed at 1.2%. Economists warned that rising costs could pressure businesses and weigh on already weak consumer spending.
Iran war: Fuel price surge squeezes dairy, poultry value chains
Industry officials say rising fuel costs, coupled with geopolitical disruptions affecting commodity markets, are squeezing farmer margins and pushing up the cost of protein-rich foods.
Inflation poses bigger risk than growth this fiscal as monsoon and crude weigh on rural demand: Nuvama
In FY27, India's economy grapples with inflation that hits hardest in rural regions, where rising food prices become an urgent concern. The eyes of policymakers are fixed on the monsoon's trajectory, a key determinant for crop health. Global factors, such as elevated crude oil prices and geopolitical strife, further exacerbate inflationary trends.
India inflation likely rose to 4% in May as food, fuel costs climb
India's inflation likely climbed to the Reserve Bank of India's 4% target in May, driven by rising vegetable prices and increased fuel costs. This trend marks a shift from the previous 15 months of below-target inflation, with economists anticipating further upward pressure due to elevated wholesale prices and potential monsoon impacts.
India Inc hikes prices, shrinks packs as Iran war squeezes margins
Indian businesses face mounting pressure from soaring oil, freight, and insurance costs. Companies are increasing prices and reducing product sizes to protect profits. Many are also cutting operational expenses like advertising and travel. Supply chains are being reconfigured to manage disruptions.
Gas at $4: Americans cut back on discretionary spends as fuel bills mount
Americans are adjusting their spending as fuel prices climb. Shoppers are altering routines, visiting discount stores for gas, and cutting back on non-essential purchases like clothing and furniture. While some retailers see resilience, lower-income customers are noticeably reducing spending. Economists anticipate further retrenchment as tax refunds diminish and the cumulative impact of higher prices is felt across budgets.
World food prices slip in May, still near three-year high, FAO says
Global food prices edge lower in May as FAO forecasts a 2% decline in world cereal production for 2026-27.
RBI Inflation FY2026-27: The inflation battle is back as RBI raises FY27 forecast to 5.1% amid West Asia war
RBI Inflation 2026-27 Forecast: The Reserve Bank of India has raised its inflation forecast for fiscal year 2026-27. This revision reflects rising food prices and ongoing global uncertainties. The central bank has paused its repo rate decision. Higher crude oil prices and supply chain issues are complicating the inflation outlook. A weaker monsoon also poses a risk to food prices.
India set to hike biogas prices, subsidies under new program
India is launching a new program to significantly increase compressed biogas production. Higher guaranteed purchase prices and subsidies will encourage new plant development. This initiative aims to reduce carbon emissions and reliance on imported fossil fuels. The policy seeks to expand operational biogas plants from around 200 to 700.
RBI MPC: A challenge Shaktikanta Das contained may be resurfacing again
India's central bank, the RBI, confronts a new inflation challenge. Rising oil prices and supply disruptions threaten to undo recent progress. Policymakers are now considering a potential rate hike. This comes as the monsoon forecast also raises concerns about food prices. The RBI's focus shifts to managing inflation expectations amidst global uncertainties.
From inputs to retail, a monster rages through: As supply-side inflation pressures build, the implications for monetary policy
India's inflation is shifting from producers to consumers, driven by cost-push factors like rising global commodity and energy prices. This is evident in the widening gap between WPI and CPI inflation. Subsequent retail fuel price hikes are expected to further increase transportation costs, impacting consumer prices across various sectors.
Petrol, Diesel Price Today: Has India seen another hike on June 4? Check fuel rates in Delhi, Mumbai, Gurgaon, Chennai and other cities
Petrol, Diesel Price Today: Fuel prices held steady across India on June 4, offering consumers a brief respite. However, rising global crude oil prices, nearing $95 per barrel, are fueling speculation about potential hikes. Such an increase could significantly impact household budgets, transportation costs, and overall inflation, making future fuel rates a key economic indicator to watch.
RBI unlikely to hike rates despite El Niño and fuel price pressures, says Nomura's Aurodeep Nandi
India's central bank is likely to maintain current interest rates. Despite rising fuel costs and potential monsoon issues, a key inflation measure remains low. Experts suggest firms are absorbing price pressures. The Reserve Bank of India will monitor data before considering any policy changes. Geopolitical risks and future cost pass-throughs remain factors.
Higher petrol, diesel prices threaten to rekindle inflation pressures: Report
Fuel prices are rising in India. This will increase transport and manufacturing costs. These higher costs will likely lead to more inflation for consumers. Food and core inflation could accelerate. Companies may pass these costs to buyers. Goods and services tax reductions offer some relief. However, elevated energy costs remain a concern.
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