Inflation
German central bank expects double-digit inflation, sees signs of recession
"There are increasing signs of a recession of the German economy in the sense of a clear, broad-based and prolonged decline in economic output," Xinhua news agency quoted the bank's monthly report issued on Monday as saying. The institution's economic researchers expect the German economy to shrink markedly in the fourth quarter of this year and the first quarter of 2023.
World Bank warns of rising global recession risk amid simultaneous rate hikes
Central banks around the world have been raising interest rates this year with a degree of synchronicity not seen over the past five decades. a trend that is likely to continue well into next year, the World Bank said in a new study. Investors expect central banks to raise global monetary policy rates to almost 4 percent through 2023, an increase of more than 2 percentage points over their 2021 average, it said.
Amid rising prices, monetary policy may keep inflation expectations firmly anchored: RBI Bulletin
The RBI's monthly bulletin for September 2022, in its chapter on the "State Of Economy" has said that the loss of momentum in global economic activity may be taking the edge off inflation. At the same time, it noted that the economy is poised to shrug off the modest tapering of growth momentum in the first quarter of 2022-23.
Wholesale inflation eases slightly to 12.41% in Aug
Inflation in August, however, was much lesser than 16.23 per cent recorded in June 2022. Wholesale inflation, which is measured by wholesale price index (WPI), was contributed by the rise in prices of mineral oils, food articles, crude petroleum and natural gas, basic metals, chemicals and chemical products, electricity and food products.
Inflation, supply chain disruption major risks for emerging Asia: Moody's
These two risks were followed by the potential impact of rising interest rates and slower economic growth, Moody's said in a statement. "Given the supply chain disruptions, multinational corporations (MNCs) have indicated a rising intention to relocate more manufacturing away from China.
Rise in retail inflation due to high food prices, adverse base effect: Centre
"Prices of major inputs like iron ore and steel have sobered in the global markets. This coupled with the measures taken by the government to rationalise tariff structures of inputs to augment domestic supply has helped to keep cost push inflation in consumer items under control," the Finance ministry said.
Growth recession only way to rein in inflation: US Federal Reserve
The apex bank said it will bring in some pain, but letting inflation stay high is worse. But this is bad news for new job seekers, the Business Insider said. 'Growth recession' is a phrase used to describe a period of below average growth, rising unemployment and slowing inflation. The US Federal Reserve chair said that while it would "bring some pain", letting inflation stay high would be worse.
Global E-com sales to drop by $95 bn in 2022, 1st time in history
According to data presented by AugustaFreePress.com, the expected e-commerce revenue drop comes as the market faces global challenges in 2022. During the pandemic, many consumers have changed shopping behaviour and switched to new brands in search of brand value, availability and convenience.
Importing Russian crude during global crisis was part of inflation management: Nirmala Sitharaman
Speaking at a function here, she said that it was due to the "statesmanship of Prime Minister Narendra Modi" that while keeping up the relations with all countries, India managed to get the Russian crude. The Finance Minister said that the Prime Minister was fully conscious of the political fallout of the decision to get Russian crude and "here I give credit to the statesmanship of the Prime Minister that we kept our relations with all countries and managed to get Russian crude.
Inflation not 'red lettered' priority: Sitharaman
Addressing the India Ideas Summit, she said that the Centre's priority is job creation and income distribution. She further said that India is taking up the G20 president-ship in challenging times when global supply chains have been damaged and geo-political equations are volatile. Sitharaman said uncertainties in the energy sector were an area of concern for the Centre.
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