GALLOPING INFLATION
Effect of GST rate cuts on commodities neutralised by 'galloping' inflation: Congress
Congress has highlighted that the gains from GST rate reductions are being wiped out by escalating inflation. They claim that increasing commodity prices have undermined the advantages of GST reform. The party also points out that GDP may provide a temporary sense of improvement, but it masked pressing issues within growth. Across all income levels, consumption remains lackluster, and real wages have fallen.
Thru the optimism prism: GDP’s 7.8% print offers some hope for those willing to see it
India's economy grew by 7.8% in the first quarter of fiscal year 2027. This growth was fueled by a consumption spurt and government capital expenditure. Nimble energy diplomacy helped India navigate global energy shocks effectively. Exports also held up well due to diversification efforts by businesses. Stock markets show early signs of hope as foreign investors return.
Budget 2024's key task involves taming a wild inflation hurting Indians
Union Budget: The upcoming interim budget holds critical significance for India amid soaring prices, demanding strategies to curb inflation. The government grapples with measures to rein in inflation, which started the year at 6.5%. Policies targeting food supply volatility might stabilise inflation. Finance Minister Nirmala Sitharaman could introduce fiscal measures to counter rising prices and manage inflation.
RBI correct in pausing rate hikes; impact of past hikes is still to flow through: Sanjeev Sanyal
Sanjeev Sanyal, a member of PM EAC, believes that there is no galloping inflation in the system, and there are pressures, a lot of which are imported from oil prices. He thinks that the Reserve Bank of India (RBI) correctly paused the rate hikes and there is a case for holding horses and letting the old hikes speed through as the WPI has come down significantly.
RBI fails to bring inflation to mandated band as CPI quickens to 7.4% in September
With the latest print well above the 6 per cent mark for the ninth consecutive month, the RBI will have to explain to the government the reasons for the failure to bring it within the 2-6% mandate and the remedial measures to fix it.
RBI-led MPC all set to decide plan of action to tame galloping inflation
According to experts, the RBI may go for a 25-35 basis points rate increase for the third consecutive time and likely change its ‘accommodative’ stance. Earlier, the RBI had signaled its decision to withdraw its accommodative stance and shift towards a neutral stance while prioritising controlling inflation over growth.
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Inflation isn't a big issue for Indians if you go by these charts
Indians worry most about unemployment while in the rest of the world price rise is causing the most anxiety
Inflation surges to 21.5 per cent in March 2022 in Sri Lanka
According to the statement from the Department of Census and Statistics, the high inflation level has hit prices of most essential food items such as rice, sugar, milk and bread. Sri Lanka's economic crisis is caused in part by a lack of foreign currency, which has meant that the country cannot afford to pay for imports of staple foods and fuel, leading to acute shortages and very high prices.
Inflation angst keeps European stocks under pressure
Investor worries over rising interest rates in response to galloping inflation have roiled global markets.
Zimbabwe halts stock trading, transfers to defend currency
Information Ministry Permanent Secretary Nick Mangwana blamed mobile money transfer platforms for causing a gap between the market exchange rate for the Zimbabwean dollar and the official exchange rate.
Economy suffered due to Modi's reckless decisions: Congress
Senior Congress spokesperson Anand Sharma said that in the past five years, India's economy is "gasping" instead of "galloping".
Great global cool-off: Inflation falling, growth slowing in key countries
Globally, central banks are now seeking to be far more accommodative.
It is time to build faith in Infosys: Dipen Sheth, HDFC Securities
The momentum is stupendous. Just look at the FII inflows over the last three-four five days, for example, or even over the month.
UPA has destroyed country's economy: Sukhbir Singh Badal
The Congress-led UPA government has destroyed the economic structure of the country and the countdown has now begun for the alliance to be shown the door by the people.
UPA government has nothing to celebrate: CPI
CPI today attacked Congress for "failure" to meet the aspirations of the people, saying the government had somehow managed to survive.
Food inflation rises to 11.49%; PM vows relief with help of food security law
The govt is expected to announce measures to boost farm productivity and trim fiscal deficit in the upcoming Union budget.
Mayawati, Naveen slam Sonia for inflation remark
Uttar Pradesh Chief Minister Mayawati said states were only following the national policy while her Orissa counterpart Naveen Patnaik asked the Centre to stop the "blame game" on inflation.
Montek for RBI action to arrest inflation
As the latest inflation data breached the double-digit barrier, the Planning Commission today suggested that the Reserve Bank aim at curbing the galloping prices.
Bonds to stay under pressure, traders await WPI numbers
Bonds prices will remain under pressure due to higher than expected IIP numbers.
Inflation falls to 0.7% on cheaper food prices
Rise in annual inflation as measured by the Wholesale Price Index (WPI) for the week ended September 26 was at 0.7%, marginally lower than previous week’s level of 0.83% as the food items became cheaper, a release by the commerce ministry on Thursday said.
Inflation leaps to 8.1%, gets govt worried
Inflation galloped to a 45-month high of 8.1 per cent, whipped up by costlier edibles and industrial fuel as government measures appeared to have little control on rising prices.
Fed poised to cut rates; may take a break after that
Federal Reserve is poised to deliver another interest rate cut to millions of people and businesses this week, although that could be the last break they get for a while.
Inflation-hit Congress to rain sops in Karnataka manifesto
With Congress facing the heat of galloping inflation in the Karnataka assembly poll campaign, its manifesto is set to contain a series of pro-poor populist promises in an attempt to minimise the electoral damage-potential of rising prices.
Inflation at 3-year high, hits 7 pc
Inflation galloped to 7 per cent, on higher prices of food, vegetables, minerals and manufactured items. Stocks to watch | Gainers and Losers | Video: Inflation at 7 pc
China to slap export taxes on grains
China said on Sunday it will levy taxes on grain exports in 2008 in the latest move apparently aimed at reining in galloping inflation and ensuring stable domestic food supplies.
China's reserve ratio requirement up
The raise is the eighth such move so far this year as the People's Bank of China seeks to strengthen liquidity management in the banking system and check the excessive credit growth.
CPI-Cong locked in war of words over inflation
The price rise once again looks set to return to the political stage. The CPI on Thursday screamed that the “food market was on fire.
Centre will take ‘credible steps’ to rein in inflation: PM
Expressing concern over rising prices, Prime Minister Manmohan Singh has said that all credible steps to control inflation will be taken by the government, reports Our Bureau.
Price rise to affect Congress in coming polls: CPM
Observing that the UPA government was "mesmerised" by its own talk of nine per cent GDP growth, the CPI(M) on Friday said the issue of price rise would adversely affect Congress' fortunes in the ongoing assembly elections.
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