Based on the Wholesale Price Index (WPI), producer inflation fell to a 22-month low in December. WPI-based inflation decreased from 5.85 percent in November to 4.95 percent in December, primarily as a result of lower prices for food items and crude oil. The Monetary Policy Committee is anticipated to face pressure to postpone the increase…
Following a significant increase the day before, gold prices were around a six-month high on Wednesday as markets anticipated an interest rate increase from the Federal Reserve later in the day as well as their comments on lessening inflationary pressures. As evidence that price pressures in the nation have peaked and are expected to retreat,…
Two significant macroeconomic indices issued on Monday indicated conflicting trends. Consumer Price Index (CPI)-based retail inflation fell to an 11-month low of 5.88% in November from 6.77% in October, but the Index of Industrial Production (IIP)-based measure of industrial output shrank by 4% from 3.2% growth in September to 4.0%. For the first time in…
In anticipation of U.S. inflation statistics and a number of central bank meetings around the world, including the Federal Reserve, gold prices moved lower on Monday. Gold’s spot price fell 0.3% to $1,792.15 per ounce. The price of US gold futures decreased 0.4% to $1,803.70. The U.S. central bank’s final meeting of 2022, planned for…
Retail and wholesale inflation decreased in October, according to official figures released on Monday, which is good news for both the government and the RBI. Consumer Price Index (CPI)-based retail inflation decreased to a three-month low of 6.77% in October from 7.41% in September. Based on the Wholesale Price Index (WPI), wholesale inflation decreased from…
Oil prices increased on Friday as softer-than-expected U.S. inflation data raised expectations of more gradual Federal Reserve interest rate increases, but worries about slowing economic growth and a rise in COVID in China kept oil trade negative for the week. After U.S. equity markets rallied, crude markets followed suit. A series of swift interest rate…
Early on Tuesday, oil prices barely changed as concerns about supply outweighed concerns about the economy and China’s adherence to its zero-COVID policy. U.S. West Texas Intermediate (WTI) crude increased 7 cents, or 0.1%, to $91.86 per barrel while Brent crude increased 7 cents, or 0.1%, to $97.99 a barrel by 0155 GMT. On Monday,…
On November 3, the Reserve Bank’s rate-setting committee will meet in extraordinary session to discuss why the government failed to keep retail inflation below the target of 6% for three consecutive quarters since January. The report on the causes of the failure to attain the inflation target as well as the corrective actions the central…
Oil prices fell for the third day in a row on Wednesday, as investors worried about the impact on fuel demand from rising global economic threats and increasing COVID-19 regulations in China. Brent crude futures had fallen 51 cents, or 0.5%, to $93.78 per barrel. West Texas Intermediate crude in the United States was trading…
S&P Global Ratings maintained its economic growth prediction for India at 7.3% in FY23 and 6.5% in FY24, with “risks weighted to the downside.” Retail inflation is expected to remain over the central bank’s medium-term objective of 2-6% through the end of 2022. According to the agency’s new Economic Outlook for the Asia Pacific, rising…
