- Tag results for Inflation
However, high double-digit inflation in fuel at 17.73 per cent remained a matter of concern.
Macroeconomic data announced during the week as well the news of the Prime Minister’s impending meeting on Saturday have been positive for the markets.
The inflation-based on Consumer Price Index was recorded at 4.17 per cent in July and 3.28 per cent in August this year.
The lower retail inflation print comes amid a spike in petrol and diesel prices that have been on the rise since August 16.
While oil prices have risen nearly 15 per cent this year, the rupee touched an all-time low of 72 per dollar on Thursday and was expected to hover near there on a worsening trade balance.
The index of industrial production for the month of July will be announced Wednesday, as will the inflation rate based on the Consumer Price Index for August.
If you think that the extortionate fuel prices is weighing heavy on wallet, brace yourself for a volley of price hikes this October that will burn a hole in your pocket.
The new passport rules threatened to leave tens of thousands stranded in Ecuador and Colombia, exacerbating problems there.
As the US economy has recovered, the Fed has raised the benchmark lending rate seven times since December 2015, twice this year under Powell.
Five of the six members of the all-powerful Monetary Policy Committee headed by Patel had voted for a 25 basis points hike in the benchmark lending rate (repo) on August 1.
Wholesale inflation eased to 5.09 per cent in July on account of cheaper food articles, especially fruits and vegetables, government data showed on Tuesday.
According to market observers, healthy buying activity was witnessed in banking, auto and IT stocks.
The CSO data revealed that inflation in vegetables declined by (-) 2.19 per cent last month, compared to 7.8 per cent in June.
Call it RBI Governor Dr Urjit Patel’s candid confession yet on missing the inflation target, which is the apex bank’s key responsibility area.By Patel’s own admission, RBI has been “away from its