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.
Mineral security is no longer just an economic concern but a national security imperative, underpinning the country’s ambitions in clean energy, defence self-reliance, and advanced manufacturing.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
India-Russia JV is also racing to deliver 7,000 more AK-203 assault rifles by 15 Aug. These are currently being made with 50% indigenisation and this will surge to 100% by 31 December.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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