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.
‘Mother kept pouring water in our eyes whenever the burning became unbearable. She pushed our bodies deep into the blanket, making sure not a single part was exposed,’ my father said.
December oil imports from Russia may drop nearly 50%, but Indian buyers already shifting to non-designated Russian entities and opaque trading channels to keep Russian oil flowing.
The helicopters produced by Lockheed Martin are known as ‘submarine hunters’. India ordered 24 of these aircraft in 2020 to replace the Sea King helicopters. 15 have been delivered till date.
The India-South Africa series-defining fact is the catastrophic decline of Indian red ball cricket where a visiting team can mock us with the 'grovel' word.
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