Inflation
Commercial LPG Prices Surge
In Delhi, the cost of a 19 kg LPG cylinder has surged to Rs 1,796.50, while in Kolkata, it stands at Rs 1,908. Mumbai and Chennai report prices of Rs 1,749 and Rs 1,968, respectively, for the same 19 kg LPG cylinder.
Finance Ministry Banks on Declining Oil Prices to Curb Inflation
India's retail inflation in October hit a four-month low, reaching 4.87%, inching closer to the RBI's targeted rate of 4%.
October Sees Retail Inflation Hit 5-Month Low at 4.87%
Food inflation, constituting nearly half of the overall consumer price index (CPI), was at 6.71% in October, compared to 6.56% in September.
Government Attributes Controlled Headline Inflation to LPG Price Reduction and Vegetable Price Adjustment
The report highlights that headline inflation has returned to a controlled state, driven by corrections in vegetable prices and recent reductions in LPG (liquefied petroleum gas) prices.
US Federal Reserve Maintains Interest Rates, Hints at Possible Future Increase
Interest rates will remain within the range of 5.25 percent to 5.5 percent, following a series of rate increases that began in March 2022, aimed at curbing inflation and bringing it below the target rate of 2 percent.
Commercial LPG Cylinder Prices Rise by More Than Rs 100, Marking Second Monthly Increase
According to the latest adjustments, the price of a 19 kg commercial LPG cylinder in Delhi has risen to Rs 1,833, up from the previous Rs 1,731. This recent hike follows a Rs 209 increase per cylinder on October 1.
Onion prices dip after hike in minimum export price: Govt
"The Government’s decision to impose Minimum Export Price of $800/ton on onion with effect from 29th October 2023 till 31st December 2023 to discourage exports and maintain availability in domestic markets has shown an immediate impact of price correction in Maharashtra markets, where prices recorded a decline of 5 per cent to 9 per cent from the highest price registered during last week," an official statement said.
Onion prices up, selling at Rs 50-80 per kg across NCR
While the staple vegetable was selling at Rs 35 to 40 per kg last week, the prices are touching Rs 50-80 across Delhi-NCR now.
Majority of MPC members want RBI to keep hawk’s eye on inflation
The MPC, in its policy review meeting, had retained the key repo rate at 6.5 percent, reiterating willingness to act against inflation.
Inflation fell to 3-month low of 5% in Sep
Food inflation, which accounts for close to half of the overall consumer price index (CPI), slowed to 6.56 per cent in September from 9.94 per cent in August. There was a sharp correction in the prices of vegetables, such as tomatoes and onions.
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