Early on Wednesday in Asian trading, oil prices dropped as investors reduced their expectations of a U.S. Federal Reserve interest rate cut and a U.S. industry organization reported that crude stocks increased more than anticipated last week. When the market started at 0000 Brent futures dropped 29 cents, or 0.4%, to $82.48. West Texas Intermediate…
October’s wholesale price index-based inflation was (-) 0.52%, which was in the negative for the seventh consecutive month due to declining food costs. As of September 2023, the WPI-based inflation rate was (-) 0.26 percent, having been in the negative since April. WPI was 8.67 percent in October of the previous year. Food item inflation…
According to a survey of 15 economists, India’s Consumer Price Index (CPI)-based inflation likely dropped to a five-month low of 4.8% in October from 5.02% in September, mostly because of the statistical effect of a high base and a reduction in the prices of important vegetables. Thanks to a positive base effect, core inflation is…
In October, India’s industrial activity decreased to 55.5 from 57.5 in September. This month marks the twenty-eighth consecutive month that the seasonally adjusted S&P Global India Manufacturing Purchasing Managers’ IndexTM (PMI) has shown signs of improving sector health. The most recent figure, which indicated the weakest rate of expansion since February, was below the long-run…
In response to rising oil prices, the Indian rupee faces a record-low danger this week, and bond investors will be watching the central bank’s decision on debt sales. On Friday, Brent crude gained 5.7% as investors priced in the likelihood that the Middle East war could worsen as a result of Israel’s start of military…
According to data provided by the National Statistical Office on Thursday, consumer price inflation in India, which is based on the Consumer Price Index (CPI), dropped to a three-month low of 5.02% in September after remaining above the 6% threshold for two consecutive months. The consecutive drop in the price of vegetables, especially tomatoes, and…
Economists claim that the US Federal Reserve has left the door open for one more rate hike before the end of the year after voting unanimously to maintain its benchmark interest rates at 5.25-5.50%. Despite sustained US inflation rates above the central bank’s target range while the US economy remains robust, the US Fed increased…
According to Ashima Goyal, a member of the RBI’s Monetary Policy Committee (MPC), the Indian economy has begun to perform well despite the unfavorable global environment since the Modi-led administration has carried out numerous reforms over the past nine years that have improved important macroeconomic indices. Goyal argued that it is foolish to extrapolate too…
In early trade on Wednesday, the rupee traded in a narrow range against the US dollar as high crude oil prices and a strong greenback offset the support from favorable macroeconomic data. Foreign exchange dealers claimed that domestic industrial production and retail inflation data were better than expected and backed up investor confidence. Investors are…
According to the S&P Global monthly survey, India’s manufacturing sector experienced its quickest rise in three months in August, powered by a significant increase in new orders and output. The manufacturing sector’s health improved by the second-best amount in nearly three years in August, according to the seasonally adjusted S&P Global India Manufacturing Purchasing Managers’…
