Due to the dollar’s appreciation against other major currencies and persistent demand for the dollar from public sector banks acting on behalf of customers of oil marketing companies, the rupee (INR) fell on Tuesday, breaching the critical 82 level. The Indian rupee, which hit a two-week low, decreased 24 paise from the previous close of…
On the back of declining prices for manufactured goods and fuel, wholesale price-based inflation inched down to a 29-month low of 1.34 percent in March, despite rising food costs. The wholesale pricing index (WPI)-based measure of inflation has decreased for ten consecutive months, starting in March. From 3.85% in February to 14.63% in March 2022,…
In India, fast-moving consumer goods (FMCG) saw a growth of 17.5% in rural regions and a growth of 6.1% in urban areas in March. FMCG sales increased by 14.1% year over year in March, according to data issued monthly by Bizom, a retail intelligence platform that measures consumer goods sales across 7.5 million places. While…
The rupee increased 18 paise to 81.93 against the US dollar in early trade on Thursday, reflecting the American currency’s widespread weakness in the foreign exchange market. Forex brokers claimed that foreign funds were also supporting the local currency. The dollar index, which measures how strong the dollar is relative to a basket of six…
Retail inflation measured by the Consumer Price Index (CPI) surpassed the RBI’s upper tolerance level in January after dropping for the previous two months and increased from 5.72% in December to 6.5 percent. The more expensive cereals, along with spices and other food items, are one of the main causes of the increase to a…
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…
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…
Shaktikanta Das, governor of the Reserve Bank of India (RBI), aimed to soothe worries on Wednesday that the Monetary Policy Committee’s explanation to the government on a breach of the inflation target would not be made public. Das claimed that because this was sensitive material, the RBI was not authorized to reveal the contents, but…
Chief Economic Advisor (CEA) V Anantha Nageswaran stated on Monday that India’s economic growth in the upcoming fiscal will probably surpass the International Monetary Fund’s (IMF) prediction of 6.1% because of increased capital formation. In addition, the CEA emphasized the necessity for fiscal consolidation in the Asia-Pacific area in light of the finance ministry’s ongoing…
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…
