Inflation
Italy's purchasing power halved since start of Russia-Ukraine war: Report
The report, titled Changing World Observatory, did not cover data from any other European countries, Xinhua news agency reported. Purchasing power is the measure of a country's wealth relative to what one unit of currency can buy in that country. A reduction in purchasing power means residents must pay more for the same amount of goods and services.
Warren Buffett targets Biden on share repurchases
Berkshire's operating profit, or the total profit from core operations before tax and interest, was $6.7 billion in the fourth quarter last year, Buffett said in his highly-anticipated annual shareholder letter on Saturday. That was a nearly 8 per cent drop from the company's third quarter earnings of $7.8 billion, the CNN reported.
Indian banks to issue bonds to maintain capital levels: CARE Ratings
"To support credit-off take, banks are expected to shore up their liability franchise by raising capital (AT1 bonds, other debt instruments such as infrastructure bonds) and deposits. The market has been facing lower liquidity and elevated inflation, hence borrowing costs for deposits and the cost of raising capital are expected to increase," the credit rating agency said in a report.
Easing inflation, bottoming of rural demand weakness, continuing IT exports seen post Q3 results
In the report, JM Financial said the easing of inflationary pressure, reflected in higher EBITDA margins. While the rural demand has not picked but the weakness has bottomed out. On the services sector front, the report said exports hasn't been affected due to slowdown in the developed economies which bodes well for IT services companies.
Major central banks will continue to tighten policies in first half of 2022
Sara Johnson, Executive Director, Economic Research, S&P Global Market Intelligence said: "The global economic outlook has brightened, with the major economies showing resilience in early 2023. However, persistent core inflation will lead to further monetary tightening, restraining growth. With supply conditions improving, progress in reducing inflation will continue.
Wholesale inflation falls to 4.73% in January
The fall in wholesale price inflation was owing to a decline in the rate of mineral oils, chemicals and chemical products, textiles, crude petroleum and natural gas, textiles and food products. The wholesale inflation had fallen to 4.95 per cent in December 2022 against 6.12 per cent, which was recorded in November 2022. The fall in WPI inflation in December 2022 too.
Retail inflation at 6.5% in January, worrisome, shocker: Economists
"CPI inflation moved to 6.5 per cent in January is higher than our expectations and is worrisome. Sequentially, inflation has snapped a two-month contractionary streak as food inflation and core inflation remained firm," Rajani Sinha, Chief Economist, CARE Ratings told IANS. "Today's inflation shocker led by food as well as consistently higher core inflation momentum has depicted.
Inflation a concern and 25 bps policy rate hike expected: Experts
As a matter of fact, RBI Governor Shaktikanta Das, announcing the upward revision in the repo rate, said the outlook for inflation is mixed." While prospects for the rabi crop have improved, especially for wheat and oilseeds, risks from adverse weather events remain. The global commodity price outlook, including crude oil, is subject to uncertainties.
RBI to continue or hit the pause button on rate hike?
According to Pathak, the bond market should react positively. "We expect bond yields to go down gradually though elevated bond supply will limit the downside of yields." Retail inflation for December 2022 fell to a year's low of 5.72 per cent, mainly due to low food prices, especially those of fruits and vegetables.
Eurozone inflation slows to 8.5% in Jan: Eurostat
Inflation in the eurozone peaked at 10.6 per cent last October and has been slowly decreasing since then, Xinhua news agency reported. Energy prices remain the main driver of the eurozone's annual inflation rate, with a 17.2 per cent increase compared to January 2022 (25.5 per cent in December 2022), followed by prices of food, alcohol and tobacco with a year-on-year increase of 14.1 per cent in January (13.8 per cent in December 2022).
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