India announced a series of measures, including a a cut in excise duty on petrol and diesel, and a reduction in import duty on raw materials for plastics and steel, to control price rise as inflation rose to an eight-year high due to an uncertain global situation because Russia’s invasion of Ukraine that has led […]
Prices of food items like cereals, pulses, and edible oils rose or remained steady in May, a Reserve Bank of India (RBI) report said, indicating there could be another higher inflation print. However, it observed that the Monetary Policy Committee’s (MPC’s) surprise move to increase interest rates bodes well for its credibility. The RBI’s monthly State of […]
Retail food inflation rose to 7.47% in March, exceeding the headline inflation rate after many months. Consequently, a clutch of items like potato, tomato, brinjal, chicken and wheat have seen the sharpest price increases. Inflation in prices of chicken rose by more than 20.74% in March 2022, while the overall food inflation in the meat […]
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) raised policy rates by 40 basis points (bps) on Wednesday — for the first times in two years — as a sharp rise in inflation to a 18-month high due to soaring food and fuel prices ended the central bank’s gradual normalisation. The RBI also […]
Economic growth in Asia and the Pacific is poised to slow more than previously estimated this year amid headwinds from the war in Ukraine, a resurgent pandemic, and tightening global financial conditions, the International Monetary Fund (IMF) said. “Regional gross domestic product will expand by 4.9 percent, 0.5 percentage points less than we forecast in […]
India’s wholesale price-based inflation rate (WPI) hit a four-month high of 14.55 percent in March as commodities and crude oil prices rose due to economic uncertainties triggered by the war in Ukraine. According to a government statement, the WPI inflation rate has remained in double digits for the past 12 months. “The high rate of […]
The war in Ukraine has pushed up global food prices to historically high levels, intensifying inflation dynamics at a time when global CPI inflation rates are already at multi-year highs, Fitch Ratings said in its latest Economics Dashboard. The conflict has worsened the outlook for the supply of key grains given the destruction of Ukraine’s […]
Global gold prices rose 8% in the first three months of 2022, the best quarterly performance since Q2 2020, after rising a further 2% in March, as rapidly rising inflation and unexpected geopolitical risks more than offset the drag from higher nominal rates, the World Gold Council (WGC) said in its latest monthly report, adding […]
The outlook for global GDP growth has deteriorated significantly as inflation challenges intensify and Russia’s invasion of Ukraine threatens global energy supplies. Fitch Ratings’ March 2022 Global Economic Outlook sees world GDP growth reduced by 0.7pp in 2022 and sharp upward revisions to inflation forecasts. “Global inflation is back with a vengeance after an absence […]
The ongoing crisis in Ukraine is set to push the country’s import bills beyond the $ 600 billion mark this fiscal, given India’s import dependence on crude oil, natural gas, gems and jewellery, edible oils and fertilisers, which can lead to a spike in inflation and current account deficit, and a falling rupee, warns an […]
