RBI on inflation: India's headline inflation has come down during March-April 2023 to 4.7 per cent in April, the lowest since November 2021.
The inflationary surge, which escalated from the previous month's rate of 36.4 percent, can largely be attributed to an unprecedented increase in food prices.
Inflation in food articles too eased to 3.54 per cent in April, against 5.48 per cent in March.
The retail inflation in the country has slipped to 4.7 per cent in April from 5.66 per cent in March, a government data informed on Friday.
Pakistan: The World Bank has claimed that the inflation rate in Pakistan can rise to 29.5 percent in the fiscal year 2023.
The retail inflation has dropped to 5.66 per cent in March from 6.44 per cent in February.
Facing the brunt of the economic crisis, Pakistan is witnessing power, food, and fuel shortage further adding to the vows of the people.
According to local media reports, Dawn, the figure indicates that inflation has soared nearly three times in the past year.
The drop in inflation rate based on the Consumer Price Index (CPI) from 6.52 per cent in January to 6.07 per cent in February 2022 will provide marginal relief to consumers.
The hike in the rate of domestic LPG cylinder will further hurt the common man who is already struggling due to the price-hike of almost every item.
Midday trading in the U.S. has seen a decrease in gold and silver prices, with silver hitting its lowest point in 2.5 months and gold reaching a five-week bottom. The recent decline in technical outlook for both metals has triggered some selling pressure.
Inflation: The retail inflation rose to a 3-month high of 6.52 per cent in January, the government data showed on Monday.
In the wake of recent economic uncertainty and a growing concern over inflation, many investors are turning to gold as a safe haven asset. With gold prices reaching new highs, demand for the precious metal has skyrocketed, as investors look to protect their wealth and ensure long-term stability.
Gold prices remained relatively stable on January 27th as traders closely monitored upcoming U.S. inflation data and the Federal Reserve's policy decisions. The release of strong U.S. GDP numbers has led to speculation that the Fed may need to keep interest rates higher for longer.
The former RBI chief noted that the per capita income will have to be at a minimum of USD 13,205 and the economy should have to maintain strong growth of between 8 to 9 per cent in order to achieve the goal.
Retail inflation: This is the first time in 11 months that the retail inflation print has come within the RBI's tolerance band of 4 (+/- 2) per cent. The consumer price index (CPI) based retail inflation was 6.77 per cent in October 2022, and 4.91 per cent in November last year.
Gujarat Assembly elections 2022: 56.88 per cent polling recorded in 1st phase voting in 89 constituencies.
The Consumer Price Index (CPI) based retail inflation has remained above the 6 per cent target since January this year.
Inflation rate in India: The rate-setting Monetary Policy Committee headed by the RBI Governor has been mandated by the government to keep inflation within 2-6 per cent range.
The October jobs figures were the last major economic report before Election Day, with voters keenly focused on the state of the economy
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