The wholesale price index (WPI) in June fell 4.12%; lowest since September 2015. RBI keeps interest rates on hold, stable rates expected by economists till 2023.
The food index fell 1.59% year-on-year against a rise of 0.17% in April, while fuel and power fell 9.17% compared with rise of 0.93% in the previous month.
Govt data on Monday showed WPI inflation for December was 4.95% year-on-year, lower than the Reuters forecast of 5.60% and 5.85% recorded in the previous month.
Food, energy and prices of manufactured products cooled down, hinting that a spike in input costs for companies due to the Ukraine conflict is now easing.
Inflation in September this year is due to rise in prices of mineral oils, food articles, natural gas among others. In August, WPI was 12.41% and 11.80 % last year in September.
The inflation was primarily due to rise in prices of crude oil, natural gas, food prices, etc. as compared to the corresponding month of the previous year, the govt said in a statement.
Principal Economic Adviser Sanjeev Sanyal notes that Consumer Price Index inflation is under control, while galloping Wholesale Price Inflation needs monitoring.
Liberty is not accepted in India as the ultimate goal of political systems. This is why, for instance, there is so much paranoia about foreign investments, wrote economist Ashok V Desai in 1995.
RBI data shows 26 states and Union Territories couldn’t regain pre-pandemic foreign tourist footfalls in 2024, but domestic tourism surged 27 percent compared to 2019.
Of the total package, $649 million will be utilised for additional hardware, software, and support services, and the remaining for Major Defence Equipment (MDE).
Don’t blame misfortune. This is colossal incompetence and insensitivity. So bad, heads would have rolled even in the old PSU-era Indian Airlines and Air India.
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