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
Annual inflation reached 10.7 per cent in October, the European Union's statistics agency, Eurostat, reported. That is up from 9.9 per cent in September and the highest since statistics began to be compiled for the eurozone in 1997.
Inflation Issue: RBI MPC member Bhide said the high inflation rate is mainly a consequence of exogenous price shocks.
UK inflation: The rise increases expectations that the Bank of England will raise interest rates further and faster as it struggles to return inflation to its 2% target.
Business news: Inflation in food articles in September eased to 11.03 per cent, against 12.37 per cent in August.
With inflation remaining above the 6 per cent level, RBI, now, will have to give a report to the central government giving reasons for failure to contain inflation at 4 per cent with a bias of 2 per cent on either side.
The Finance Minister interacted with the vendors and even bought vegetables from them. While interacting with the vendors she asked them about the difficulties they experienced.
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