india’s retail inflation eases
Last Updated : GMT 07:25:12
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 07:25:12
Arab Today, arab today

India’s retail inflation eases

Arab Today, arab today

Arab Today, arab today India’s retail inflation eases

An employee counts Indian currency notes at a cash counter
New Delhi - Arab Today

India’s retail inflation eased to the lowest level in at least five years in May on cooling food prices, bolstering hopes for an interest rate cut by the central bank later this year.
Consumer prices rose by an annual 2.18 percent last month, compared with a 2.99 percent gain in April, data released by the Ministry of Statistics showed on Monday.
The rise was lower than the 2.60 percent forecast by economists in a Reuters poll and was the lowest since India started publishing an economy-wide consumer price index (CPI) in 2012.
With headline inflation undershooting the Reserve Bank of India’s (RBI) mid-term target of 4 percent for the past seven months, pressure has mounted on the central bank to resume interest rate cuts to juice up economic growth that has hit the lowest level in more than two years.
“This clearly shows that the (inflation) risk is on the downside,” said Gaurav Dua, research head at brokerage Sharekhan Ltd. in Mumbai. “This opens up a scope for rate cut in August.”
The policy repo rate has been on hold since October when the RBI lowered it by 25-basis points to 6.25 percent. At its policy review last week, the RBI left key interest rates unchanged but lowered inflation projections and delivered a slightly less hawkish policy statement.
The central bank now expects retail inflation to range between 2-3.5 percent between April and September, lower than its previous forecast of 4.5 percent, and 3.5-4.5 percent from October-March, down from 5 percent earlier.
While falling commodity prices and a rally in the rupee, which has made imports cheaper, have tamped down price pressures, the biggest comfort policymakers are drawing is the forecast of a normal monsoon this summer.
Retail food prices fell 1.05 percent last month from a year ago, compared with a 0.61 percent gain in April.
Bountiful monsoon rains could result in another bumper harvest for the South Asian nation, which is already sitting on a huge inventory of food grains from last year's record harvest.
That prospect, however, will not cheer millions of India’s debt-ridden farmers who are struggling with low prices amid a glut of produce such as lentils, oilseeds and cereals. Further falls in prices could compound their woes and fuel discontent that has triggered protests in the big agrarian states of Maharashtra and Madhya Pradesh, where police shot dead five protesting farmers last week.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india’s retail inflation eases india’s retail inflation eases

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india’s retail inflation eases india’s retail inflation eases

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 13:38 2018 Thursday ,13 December

Maduro says meeting with Putin most useful in his career

GMT 10:40 2017 Monday ,03 July

Actor Mohamed Ramadan happy for reactions

GMT 12:21 2017 Wednesday ,19 April

Ramez Galal’s new prank show is suffering

GMT 11:23 2017 Friday ,05 May

Komodo dragon attacks tourist in Indonesia

GMT 19:09 2016 Monday ,12 December

With Egyptian Commercial Consul in the UAE

GMT 16:47 2017 Tuesday ,22 August

Al-Wardi happy for renewing contract

GMT 04:58 2017 Tuesday ,10 January

Ronaldo, Ranieri scoop top FIFA awards

GMT 11:52 2017 Thursday ,16 February

Three ways to turn discarded wood into home decor

GMT 00:53 2017 Saturday ,22 April

Car bomb explodes in Somalia capital

GMT 08:40 2015 Sunday ,19 April

Amazing modern curved kitchen design ideas

GMT 05:29 2016 Tuesday ,18 October

Surprise! Rihanna joins McCartney at ‘Oldchella’

GMT 09:27 2017 Wednesday ,06 December

EU blacklists 17 tax havens

GMT 04:39 2017 Wednesday ,04 January

OIC condemns terrorist attack in Istanbul

GMT 16:43 2016 Thursday ,29 December

Optimism at last for US woman in Egypt jail

GMT 19:01 2016 Wednesday ,23 November

Mansour bin Zayed arrives in Algeria in official visit

GMT 15:25 2017 Tuesday ,21 November

Ratings boost for Saudi reform program

GMT 19:38 2016 Wednesday ,14 December

Gazprom Neft, Iran’s NIOC agree oil field studies
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday