Prices of food items continuing to increase in May, says RBI report

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 […]

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Wheat, key vegetables and edible oils post sharpest price rise in India this year

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 […]

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Asia growth slows on commodities, Covid and rising interest rates

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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 […]

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Global gold prices rose 8% in Q1; rate hikes a risk, but inflation, geopolitics remain key drivers – WGC

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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 […]

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Fitch Ratings cut world growth forecasts as inflation intensifies due to war

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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 […]

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