Inflation
RBI can argue its case for not curbing inflation
The RBI's Monetary Policy Committee (MPC) will meet on November 3 to discuss what it would tell the Centre as to why it was not able to restrain the inflation. The RBI may also sound out the Central government as to the course of inflation as well as the reasons as to why it may be at the elevated levels.
German inflation spikes to highest in 32 years
Energy prices in Europe's largest economy soared 43 per cent year-on-year and continued to have a "substantial impact on the inflation rate", Destatis said on Friday. Food prices also outgrew overall inflation levels and were up 20.3 per cent, Xinhua news agency reported citing the Office as saying.
Australian inflation hits 32-yr high
The Australian Bureau of Statistics on Wednesday reported the consumer price index (CPI) rose by 1.8 per cent in the three months to September 30 and by 7.3 per cent over the last 12 months, reports Xinhua news agency. It marks the highest annual figure since 1990.
Wheat procurement, MSP fell in current Rabi season 2022-23 due to geopolitical situation: Government
According to official sources, wheat procurement in the current season of 2022-23 fell by 56.64 per cent compared to 2021-22 season. In 2022-23 Rabi season, wheat procurement was only 187.92 lakh metric tonnes (LMT) down by 56.64 per cent from 433.44 LMT procured in 2021-22.
Wheat exports shrink this year after imposition of curbs
According to Ministry of Food and Consumer Affairs data, the couuntry exported 24.08 lakh metric tonnes (LMT) of wheat between May 15 and September 30. This was 10.3 per cent more than 21.83 LMT of wheat which was exported between April 1, 2021 and May 14, 2021.
Japan core consumer prices hit 8-year high in September
According to the Ministry of Internal Affairs and Communications, the nationwide core consumer price index, excluding volatile fresh food items, exceeded the Bank of Japan's 2 per cent target for the sixth straight month. This was due to the Japanese yen's drop to 32-year lows against the dollar, pushing up import costs in the reporting period, Xinhua news agency reported, citing the ministry's data.
India at no. 3 on list of centi-millionaires, to overtake China by 2032: Report
Out of the world's 25,490 centi-millionaires, India has 1,132, beating countries like the UK, Russia and Switzerland, in a swift growing and powerful class of super-rich tech titans, financiers, multinational CEOs, and heirs.
Austria's inflation hits 70-year high
Statistics Austria said on Wednesday that the September inflation rate was 1.2 percentage points above that registered in August and exceeded the high inflation levels "during the oil crisis in the 1970s", reports Xinhua news agency.
Rupee hits new record low of 82.95 against USD
The currency fell to a record low of 82.95 after the US dollar strengthened against all major currencies globally.
the dollar's ascent has been triggered by inflation in the UK hitting a 40-year high level last month, owing to rising food prices.
Inflation set to ease, though stubbornly: RBI bulletin
These observations have been made in the central bank's monthly bulletin for the month of October. In the article on the state of economy published in the bulletin, the central bank said that "these factors will entrench India's prospects as one of the fastest growing economies of the world".
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