European Central Bank has raised its policy rate by 50 basis points & US Federal Reserve by 25 basis points with the aim to bring inflation back down to target levels.
Telangana, Andhra Pradesh, Haryana, Maharashtra, West Bengal, MP & UP had inflation in excess of upper band. For most of the states, rural inflation exceeded urban inflation.
Inflation rates in rural India were higher than in urban areas for first 7 months of the year, govt data shows. A major reason lies in the way inflation is calculated for the 2 regions.
Food prices, reopening of economy & resurgent demand are fuelling inflation, but robust public distribution system is likely helping some states like Kerala, Tamil Nadu keep prices down.
Lebanon faces worst inflation rate in the world, followed by Zimbabwe and Sudan, according to 'Trading Economics', which sources data from governments.
Principal Economic Adviser Sanjeev Sanyal notes that Consumer Price Index inflation is under control, while galloping Wholesale Price Inflation needs monitoring.
As per the data released by the National Statistical Office (NSO), inflation in the food basket was 3.11% in August compared to 3.96% in the preceding month.
With gradual resumption of supply chains, inflation may come down. Data has also been limited by the lockdown, so the MPC should wait before changing rates.
The byelection follows the death of MLA Rajendra Dholakia, a Gujarati businessman-turned-politician of the BJD who also served as a minister in the previous government.
Cooperation Ministry takes a step towards financial inclusion with Sahkar DigiPay and Sahkar DigiLoan. They will enable faster and seamless access to financial services in small towns.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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