Tag Archives: Inflation

New Delhi: India's wholesale price-based inflation surged to a 14-month high in May, driven primarily by food items, according to government data released on Friday. The Ministry of Commerce & Industry reported a 2.61% increase in wholesale inflation for May, exceeding economists' expectations of a 2.5% rise. This figure marks a significant jump from April's year-on-year rise of 1.26%.

India is set to remain the world's fastest-growing major economy, with a projected steady growth rate of 6.7% over the next three years, according to the World Bank's latest Global Economic Prospects report released on Tuesday.

In a surprising turn, US consumer prices experienced a notable increase, throwing a wrench into expectations of potential interest rate cuts by the Federal Reserve this month. According to data released by the Labor Department on Tuesday, the consumer price index (CPI) surged by 3.2 percent annually in February, marking a significant jump from the previous month's figures. Additionally, the CPI climbed by 0.4 percent in February alone.

Fuel concerns affecting food security aspects and impact on inflation, fragmentation of supply chains were the three major worries in the near future, Sitharaman said during G20 Presidency briefing at Marrakech, Morocco.

The cost of domestic LPG cylinders has been reduced by Rs 200, benefiting millions of households and Ujjwala Yojana beneficiaries. Prime Minister Modi's Raksha Bandhan gift provides financial relief amid high inflation and upcoming elections.