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Since December last year when the inflation rose 5.69%, India's retail inflation has been easing as the rate came in at 5.10% and 5.09% for January and February respectively. In March, retail inflation saw a notable decline, coming at 4.85%

April retail inflation comes in at 4.83% vs 4.85% in March

<h2>Since December last year when the inflation rose 5.69%, India's retail inflation has been easing as the rate came in at 5.10% and 5.09% for January and February respectively. In March, retail inflation saw a notable decline, coming at 4.85%</h2>

The retail inflation for April marginally eased as the Consumer Priced Index stood at 4.83%. In March, the retail inflation came in at 4.85%, according to data from the Ministry of Statistics and Programme Implementation.
<h3>CPI Inflation</h3>
Inflation in the food basket was at 8.7% in April, marginally up from 8.52% in March, according to the data released by the National Statistical Office (NSO).
The government has tasked the Reserve Bank to ensure inflation remains at 4%, with a margin of 2% on either side.
According to the Reserve Bank, which factors in consumer inflation while arriving at its bi-monthly monetary policy, food price uncertainties continue to weigh on the inflation trajectory going forward.
RBI governor Shaktikanta Das during the last monetary policy in April highlighted concerns over food price uncertainties even as he expressed optimism that a record rabi wheat production would help ease price pressure. Moreover, the prospects of a normal monsoon are expected to augur well for the kharif season.
Since December last year when the inflation rose 5.69%, India's retail inflation has been easing. For January and February, inflation prints came at 5.10% and 5.09%, respectively.&nbsp;
[With PTI inputs]
Also Watch: <a href="https://www.editorji.com/business-news/economy/extreme-weather-may-pose-risk-to-inflation-rbi-bulletin-1713956141156">Extreme weather may pose risk to inflation: RBI bulletin</a>

The increase or decrease in inflation depends on the demand and supply of products. If people have more money, they tend to buy more things. Increased demand leads to higher prices if the supply does not meet the demand.

Retail inflation drops to 4.85% in March, down from 5.09% in February; Food and beverage prices decline

The increase or decrease in inflation depends on the demand and supply of products. If people have more money, they tend to buy more things. Increased demand leads to higher prices if the supply does not meet the demand.

Retail inflation fell to 4.85% in March, down from 5.09% in February, with prices of food and beverages decreasing. The Reserve Bank of India (RBI) has a target range of 2%-6% for inflation. In an ideal situation, the RBI would want retail inflation to remain at 4%.
Food inflation rate decreased from 8.66% to 8.52%, rural inflation increased from 5.34% to 5.45%, and urban inflation decreased from 4.78% to 4.14%.
How does inflation increase or decrease?
The increase or decrease in inflation depends on the demand and supply of products. If people have more money, they tend to buy more things. Increased demand leads to higher prices if the supply does not meet the demand.
In this way, the market falls prey to inflation. In simple terms, excessive flow of money in the market or shortages of goods lead to inflation. Conversely, if demand decreases and supply increases, inflation decreases. Inflation is determined by the CPI
As consumers, we purchase goods from the retail market. Consumer Price Index&nbsp; measures changes in the prices related to these purchases. It measures the average price that we pay for goods and services.
Apart from raw oil, commodity prices, and manufacturing costs, there are many other factors that play a crucial role in determining retail inflation rates. There are about 300 items based on whose prices the retail inflation rate is determined.
&nbsp;

During the first monetary policy committee review of 2024, Reserve Bank of India Governor Shaktikanta Das emphasized the influence of food prices on the inflation outlook, which remains uncertain

Retail inflation eases to 5.10% in January 2024

<h2>During the first monetary policy committee review of 2024, Reserve Bank of India Governor Shaktikanta Das emphasized the influence of food prices on the inflation outlook, which remains uncertain</h2>

Retail inflation eased to a three-month low of 5.1 per cent in January mainly on account of lower food prices, according to official data released on Monday.
Inflation based on the Consumer Price Index (CPI) was at 5.69 per cent in December 2023 and 6.52 per cent in January 2024.
In August 2023, inflation touched a high of 6.83 per cent.
According to the data released by the National Statistical Office (NSO), retail inflation in the food basket was at 8.3 per cent in January 2024, down from 9.53 per cent in the preceding month.
The Reserve Bank of India has been tasked by the government to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side.

As tomato prices and onion prices went up by 20% and 35% respectively in last year and Broiler's price declined by 26%, veg thali prices went up by 5% and non-veg thali price declined by 13%

Vegetarian thali became costlier and non-veg thali cheaper in last one year: CRISIL

<h2>As tomato prices and onion prices went up by 20% and 35% respectively in last year and Broiler's price declined by 26%, veg thali prices went up by 5% and non-veg thali price declined by 13%</h2>

The cost of vegetarian thali went up by 5% while non-veg thali prices saw a drastic decline by 13% in January YOY, revealed a CRISIL report. In January this year, the cost of a veg thali was Rs 28. In January last year, it was Rs 26.6. For non-veg thali, the cost went down to Rs 52 from Rs 59.9 during the same period.
<h3>Pricing reason</h3>
The main reason for the rise in the cost of a veg thali is the increase in prices of tomato and onion. Tomato prices rose by 20% while onion prices rose by 35%. Moreover, the prices of rice and pulses also rose 14% and 21%, respectively.&nbsp;
For the non-veg thali, the cost went down as the broiler's price declined by 26% on the back of higher production. Broiler accounts for 50% of the total cost of a non-veg thali.
Also Read: <a href="https://www.editorji.com/business-news/economy/your-thali-of-food-got-cheaper-in-december-find-out-why-1704713235752">Your &lsquo;Thali&rsquo; of food got cheaper in December; find out why</a>
On Month on month basis, as compared to December 2023, the cost of both thalis has gone down. The report said, "On-month, the cost of the veg and non-veg thalis fell 6% and 8% respectively."
The easing was due to a fall in onion and tomato prices by 26% and 16% respectively, as compared to December 2023. The prices dropped due to an increased supply amid export curbs and fresh tomato arrivals from northern and eastern states.
According to the Roti Rice Rate (RRR) report, a veg thali comprises roti, onion, tomato and potato, rice, dal, curd and salad. On the other hand, a non-veg thali has the same elements as the veg thali, except for dal, which is replaced by chicken (broiler).
<h3>Inflation check</h3>
The rise in veg thali points out that the inflation in January 2024 would be higher than January 2023. In January 2023, retail inflation was reported at 6.52%, with food inflation at 5.94%.&nbsp;
In December, the retail inflation was 5.69% with food inflation at 9.53%.

The inflation based on Consumer Price Index (CPI) was at 5.55 per cent in November 2023 and 5.72 per cent in December 2022

Retail inflation rises to a 4-month high of 5.69% in December

<h2>The inflation based on Consumer Price Index (CPI) was at 5.55 per cent in November 2023 and 5.72 per cent in December 2022</h2>

Retail inflation inched up marginally to a 4-month high of 5.69 per cent in December 2023, mainly on account of higher food prices, according to official data released on Friday.
The inflation based on Consumer Price Index (CPI) was at 5.55 per cent in November 2023 and 5.72 per cent in December 2022.
In August 2023, inflation touched a high of 6.83 per cent.
As per the data released by the National Statistical Office (NSO), retail inflation in the food basket was at 9.53 per cent in December 2023, up from 8.7 per cent in the preceding month and 4.9 per cent in the year-ago month.
The Reserve Bank of India has been tasked by the government to ensure retail inflation remains at 4 per cent with a margin of 2 per cent on either side.

Inflation in the UK dropped sharply to 4.6% in October, its lowest level in two years 

UK inflation experiences significant decline, alleviating pressure on PM Sunak

Inflation in the UK dropped sharply to 4.6% in October, its lowest level in two years&nbsp;

UK inflation fell more than expected in October, reaching a two-year low of 4.6%, according to data released on Wednesday by the Office of National Statistics. This eases the cost-of-living challenges and reduces pressure on Prime Minister Rishi Sunak. Soon after becoming PM, Sunak pledged to bring down inflation to 5% from the 10% levels that it was then.&nbsp; The Consumer Prices Index (CPI) dipping below Sunak's set target of five percent also alleviates concerns for the Conservative party amid the upcoming general election.
Also read/watch - <a title="Luxury watches cost crashes: Rolex and Patek Philippe prices hit two-year lows, here's why" href="https://www.editorji.com/business-news/markets/luxury-watches-cost-crashes-rolex-and-patek-philippe-prices-hit-two-year-lows-here-s-why-1700040718278">Luxury watches cost crashes: Rolex and Patek Philippe prices hit two-year lows, here's why</a> &nbsp; Inflation which was at 6.7% in September, fell more than projected by the Bank of England and analysts. Sunak acknowledged the progress, stating that while it's encouraging that prices are rising more slowly, efforts must continue to bring inflation back down to the Bank of England's two percent target.
This positive trend follows a peak in annual inflation at 11.1% in October 2022, driven by surging energy prices in the aftermath of Russia's invasion of Ukraine.&nbsp;

The National Statistical Office is scheduled to release the Consumer Price Index (CPI) data for September soon

Indian inflation expected to ease to 5.5% in September: Report

<h2>The National Statistical Office is scheduled to release the Consumer Price Index (CPI) data for September soon</h2>

India's retail inflation is expected to have dipped below 6% in September after two consecutive months above the central bank's tolerance threshold. This drop is attributed to declining prices for most essential commodities and food items, except for pulses, which have seen sustained price increases.
Economists from the Bank of Baroda, who monitor a monthly index of essential commodity prices, anticipate that consumer price inflation in September may have fallen to 5.7% from 6.8% in August and a 15-month high of 7.4% in July. Food inflation, which stood at around 10% in August, is expected to have moderated.
The National Statistical Office is scheduled to release the Consumer Price Index (CPI) data for September soon. The Reserve Bank of India's Monetary Policy Committee recently revised its average inflation projections for the July to September quarter to 6.4%, suggesting an expectation that September's retail inflation will be between 4.9% and 5%.
Economist Dipanwita Mazumdar of Bank of Baroda noted that price pressures eased in September, driven primarily by the reversal of prices for tomatoes, potatoes, and onions. This moderation in food prices is broad-based, and the favorable base effects from the same period last year, when inflation was at 7.4%, are expected to contribute to the lower headline inflation number. Crisil report on Inflation
Additionally, a report on food costs by Crisil Market Intelligence and Analytics estimated a 17% decrease in the cost of vegetarian food in September compared to August, with non-vegetarian dishes becoming 9% cheaper. Lower tomato and LPG cylinder prices were cited as the main factors contributing to this price correction.

In August, Rajasthan led with 8.6% inflation, while Delhi had the lowest at 3.1%. High inflation also affected Haryana, Telangana, and Odisha. Elections and tomato subsidies influenced trends, with 13 states surpassing the national average

Inflation rates soar in states preparing for upcoming elections

In August, Rajasthan led with 8.6% inflation, while Delhi had the lowest at 3.1%. High inflation also affected Haryana, Telangana, and Odisha. Elections and tomato subsidies influenced trends, with 13 states surpassing the national average

The impact of soaring prices has painted a varied picture across Indian states, with Rajasthan topping the list by recording the highest inflation rate at 8.6% in August, a slight dip from 9.7% in the preceding month. In contrast, the national capital, Delhi, stood as the oasis of affordability with the lowest inflation rate at a modest 3.1%.
Nevertheless, Rajasthan was not alone in grappling with high inflation; Haryana, Telangana, and Odisha also witnessed inflation rates exceeding 8%.
Also, Rajasthan and Telangana are among the five states preparing for upcoming elections, potentially influencing their inflationary trends. Meanwhile, the headline retail inflation for the month of August fell to 6.83% from 7.44% in July. The drop in retail inflation comes as vegetable prices cooled down with the country&rsquo;s food inflation easing to 9.94% in August from 11.51% in July
As per an ET report, out of the 22 states for which data was available, 13 registered inflation rates higher than the national average of 6.8%, marking a worsening situation compared to the previous month when 12 states outpaced the national average.
Economists suggest that state initiatives to provide subsidized tomatoes may have contributed to the divergence in inflation figures.
Only two of the 22 states saw an uptick in retail prices while inflation tapered off in most parts of the country. Assam experienced an increase, rising to 4% in August from 3.9% in July, while Punjab observed a 0.26 percentage point surge in inflation, reaching 7.34%.
The urban-rural divide in inflation trends continued for the second consecutive month, with rural inflation surpassing urban inflation. This divergence underscores the complex economic landscape shaping the country's inflationary pressures.

RBI's Shaktikanta Das predicts fresh crops will lower vegetable prices by September, easing inflation worries aligned with core trends. Despite this, rate cut potential in FY23-24 lessens

RBI Governor expects vegetable prices to decline by September

RBI's Shaktikanta Das says fresh crops will lower vegetable prices by September, easing inflation worries aligned with core trends. Despite this, rate cut potential in FY23-24 lessens

Reserve Bank of India Governor Shaktikanta Das has stated that vegetable prices are expected to decrease by September as fresh crops enter the market.&nbsp; The recent sharp increase in vegetable prices, which raised worries about higher consumer inflation, is predicted to ease, aligning with the general trend in core inflation. However, this positive outlook has slightly reduced the chances of a rate cut later in the fiscal year 2023-24, he added.
Governor Das shared these insights during his speech at the Lalit Doshi Memorial Lecture in Mumbai. He emphasized the positive impact of the ongoing monetary policy, highlighting the gradual reduction of core inflation by about 130 basis points from its recent peak.
While core inflation remains relatively high at 4.9%, this gradual decrease suggests that the tight monetary policy is effective. Moreover, the notable price surge in vegetables, particularly tomatoes, in July is already being reversed due to fresh arrivals in the markets. This shift is expected to noticeably lower vegetable-related inflation starting from September.
India is currently facing renewed inflation pressures, primarily due to higher prices of food items like tomatoes and onions. The Monetary Policy Committee (MPC) recently maintained its interest rates and monetary stance, focusing on the gradual withdrawal of stimulus measures. However, the committee revised the inflation forecast for the fiscal year from 5.1% to 5.4%
Governor Das emphasized that the recent spikes in vegetable prices are temporary in nature, implying that the monetary policy can wait for their initial effects to subside. The primary goal remains to prevent secondary effects that could lead to sustained and widespread inflation.
The MPC's task is to keep inflation, measured by the Consumer Price Index, at around 4%, with a permissible range of two percentage points on either side. Despite a decrease from the peak of 7.3% in the first quarter of the previous fiscal year to 4.6 percent in the current fiscal quarter, inflation remains a concern.

The Finance Ministry in its monthly economic review has mentioned that the price pressure in food items seems to be transitory while the local consumption and investment demand to drive growth

Monthly Economic Review: Finance Ministry warns of elevated Inflationary pressures in coming months

The Finance Ministry in its monthly economic review has mentioned that the price pressure in food items seems to be transitory while the local consumption and investment demand to drive growth

The Finance Ministry has warned that the inflationary pressures would stay elevated for the next few months. The ministry has advised both the government and the RBI to be more vigilant. The ministry in its monthly economic review has attributed this prediction to the persistent &nbsp;global uncertainty and domestic disruptions.&nbsp;
However, the ministry has also noted that the price pressure in food items is expected to be transitory which is evident through the agriculture sector's stead performance. The report also mentioned that Centre's pre-emptive measures to curb food inflation along with the arrival of fresh stock is likely to negate the price pressure in the market soon.&nbsp; &nbsp;&nbsp;
Also Read: <a href="https://www.editorji.com/business-news/july-retail-inflation-at-7-44-rises-to-15-month-high-as-vegetable-prices-surge-1692018137609">July retail inflation at 7.44%; rises to 15 month high as vegetable prices surge</a>
Meanwhile, the monthly economic review has also said that the local consumption and investment demand would drive growth.&nbsp;
This comes, after data showed that a surge in vegetable prices drove India's headline retail inflation to a 15-month high of 7.44% in July from 4.87% a month back. The unexpectedly high Consumer Price Index pushed the government to bring the food inflation under control. The centre has now announced a 40% export duty on onion on August 19 to discourage exports and ensure sufficient domestic supply. The government has also started selling tomatoes at discounted prices in Key consumption areas.
On the basis of these measures the prices could be expected to come down, however some economists believe that CPI inflation for the month of August is likely to stay above 7%. The festival season would also bring a decline in inflation and economists are expecting the inflation to go below 5% by October.

Rajasthan's retail inflation hits 9.7% in July, attributed to disrupted vegetable supplies and welfare measures. Urban inflation reaches 10.90%, rural at 9.30%

Rajasthan records highest July inflation rate of 9.7% in India

Rajasthan's retail inflation hits 9.7% in July, attributed to disrupted vegetable supplies and welfare measures. Urban inflation reaches 10.90%, rural at 9.30%

Rajasthan has experienced a significant surge in retail inflation, claiming the unenviable title of India's highest inflation rate in July.
The state's efforts to alleviate the situation through 'Mehangai Rahat Camps' (inflation relief camps) have been overshadowed by this economic challenge. According to a report by The Times of India (TOI), Rajasthan's retail inflation soared to 9.7%, with Jharkhand closely following at 9.2%
Economists and consumer protection entities have attributed the recent inflation surge to the disruptions caused by rainfall in vegetable supply chains. The ramifications extend beyond tomatoes, encompassing various vegetables like ginger, which have experienced price hikes in recent months.&nbsp;
The injection of funds into the economy through welfare measures has compounded the inflation challenge.
Rajasthan's government established inflation relief camps, offering subsidies on cooking gas, electricity, health insurance, and medical treatments, among other benefits. Consequently, this influx of money into the economy has contributed to the overall inflationary pressure.
In July, rural retail inflation, as measured by the consumer price index, surged from 5.11% to 9.30%, while urban inflation soared from 5% in June to 10.90%.
Data from the National Statistical Office revealed that the retail inflation breakdown attributed 37.43% to vegetables and 13% to cereals and related products.
Last week's government data revealed that nation's consumer price index (CPI) inflation surged to a 15-month peak of 7.44% in July 2023, driven by higher food and vegetable costs.
Also Watch: <a href="https://www.editorji.com/business-news/july-inflation-in-india-urban-poor-most-impacted-says-crisil-1692196521527">July inflation in India| Urban poor most impacted says Crisil</a>

UK's Wilko collapses due to debts, impacting 12K jobs amid high inflation. CEO Mark Jackson aims to preserve jobs through administration. PwC appointed as administrators

U.K based, debt-Stricken Wilko may collapse, 12,000 jobs hang in balance

UK's Wilko collapses due to debts, impacting 12,000 jobs amid high inflation. CEO Mark Jackson aims to preserve jobs through administration. PwC appointed as administrators

Wilko, a British household goods company, has collapsed under the weight of a significant debt burden. Approximately 12,000 jobs are now at risk. Operating through roughly 400 physical stores and an online platform, Wilko's product range includes cleaning supplies, garden products, and various small household items. The company has officially initiated the administration process, which might potentially salvage certain segments of its operations.
In an open letter on the company's website, Wilko's CEO, Mark Jackson, expressed the collective efforts to sustain the business. However, acknowledging that time had run out, he emphasized the need to prioritize job preservation. Working alongside appointed administrators, Wilko aims to secure as many jobs as possible.
Media reports revealed that Wilko has enlisted PricewaterhouseCoopers as administrators for the distressed company, which was established in 1930.
Despite significant interest and indicative offers that aligned with financial criteria for recapitalization, the company found itself compelled to take this unfortunate step. The collapse of Wilko underscores the formidable challenges confronting businesses in the retail sector, highlighting the broader economic complexities shaped by ongoing market dynamics.

With prices rising around 80%, premium extra virgin olive oil now costs anywhere between ₹1000 to 1400 per liter, while the cost of foxnuts or makhana has also spiked around 70%. 

Olive Oil & Makhana prices soar by 70%-80%

With prices rising around 80%, premium extra virgin olive oil now costs anywhere between ₹1000 to 1400 per liter, while the cost of foxnuts or makhana has also spiked around 70%.&nbsp;

The prices of Olive Oil and Fox nuts or makhana have seen a dramatic rise. Olive Oil prices have gone up 80% while Makhana prices have gone up by 70% over the past two months.
A recent export ban enforced by Turkey, the world's leading olive oil producer, has exacerbated the global shortage of olive oil, exerting upward pressure on prices. As India relies solely on imports to fulfill its olive oil needs, the effects of this shortage are particularly strong. As per Economic Times, the market price range for premium extra virgin olive oils from renowned brands, available on various online platforms, now costs anywhere between ₹1000 to 1400 per liter.
Makhana, a traditional treat hailing from eastern India which has gained immense popularity in recent years, is largely cultivated in Bihar. However, the price of makhana has surged by 70% over the past two months due to the scorching heat drying up the artificial ponds utilized for its cultivation.
Makhana's status as a revered superfood soared following a sharp price hike around 2017, which saw seed prices multiply by 3-4 times, peaking at an unprecedented ₹22,000 per quintal. This surge attracted numerous paddy farmers to embrace makhana cultivation in artificial ponds, successfully fulfilling the burgeoning demand.
However, the landscape shifted dramatically, with seed prices plummeting to a meager ₹3,500 per quintal in November of the preceding year. This decline in demand, driven by economic recession, prompted approximately 25% of farmers to pivot away from makhana cultivation.
&nbsp;

As sowing in India went down by over 9%, the prices of pulses have seen an increase of 2-3% within a week

After tomato, Pulses' price shoot up as Kharif sowing falls

As sowing in India went down by over 9%, the prices of pulses have seen an increase of 2-3% within a week

The surge in tomato prices over the past one month has led to Indians adding more pulses to their plates. However, now, the international rates of pulses have also gone up as exporting countries try to take advantage of the fall in India's pulses sowing that fell by over 9%.&nbsp;
An increase of 2-3% in wholesale prices is seen within a week. As vegetable inflation persists in India, the demand for the relatively cheaper pulses like masoor and moong has increased in July over June. Meanwhile, exporting countries like Canada, Myanmar, Mozambique and others, which are closely monitoring the progress of kharif sowing in India, have increased the prices of pulses.
Also Read: <a href="https://www.editorji.com/business-news/food-price-surge-expected-to-drive-july-inflation-to-6-7-report-1691475399693">Food price surge expected to drive July inflation to 6.7%: Report</a>
Urad dal has seen the highest surge in prices, a rise of Rs 3/KG or nearly 3% last week in Jalgaon, one of the main processing centres for urad in the country. Toor dal prices have increased by Rs 200-400/quintal last week for various qualities. As per Economic Times, In the Akola (Maharashtra) market and in Gulbarga (Karnataka), the price of toor dal shot up from Rs 136/kg to Rs 140/kg last week, while the price of toor imported from Mozambique increased by a substantial Rs 5.5/kg in a week in Mumbai.
According to trade data, all India urad sowing is down by close to 14%, while sowing of toor is down by about 8%. The rise in prices of toor dalcan be attributed to limited domestic stock, delay in sowing of the kharif crop and slow imports. Meanwhile, Myanmar is holding the stocks of urud dal from exporting urud dal as they are closely monitoring the situation in India.

The pound dropped following the announcement as traders bet on whether this could be the final increase from the BoE in the current tightening cycle

Bank of England hikes rate 14th time in row on high UK inflation

The pound dropped following the announcement as traders bet on whether this could be the final increase from the BoE in the current tightening cycle

The Bank of England on Thursday hiked its key interest rate for a 14th time in a row, by a quarter-point to 5.25 percent as UK inflation stays high, prolonging a cost-of-living crisis.&nbsp;
Policymakers "will continue to monitor closely indications of persistent inflationary pressures", the BoE said in a statement following a regular meeting that sent borrowing costs to the highest level in more than 15 years.
The pound dropped following the announcement as traders bet on whether this could be the final increase from the BoE in the current tightening cycle.
British annual inflation remains close to eight percent, far higher than in the eurozone and United States.
"It is expected to fall significantly further, to around five percent by the end of the year, accounted for by lower energy, and to a lesser degree, food and core goods price inflation," the BoE said Thursday.
"Services price inflation, however, is projected to remain elevated at close to its current rate in the near term."
The BoE is tasked by the UK government with keeping annual inflation at around two percent.
At its last meeting in June, the BoE lifted its rate by a half point. Since then, UK annual inflation has dropped to 7.9 percent from 8.7 percent but remains the highest among G7 nations.
"Inflation is falling and that's good news," BoE governor Andrew Bailey told a press conference.
"We know that inflation hits the least well-off the hardest and we need to make absolutely sure that it falls all the way back to the two-percent target."

The US Federal Reserve has raised interest rates rapidly over the last year to ease demand and bring down price increases

US annual consumer inflation cools to lowest since early 2021

The US Federal Reserve has raised interest rates rapidly over the last year to ease demand and bring down price increases

Annual consumer inflation in the United States cooled in June to its lowest rate since early 2021, the Labor Department said Wednesday -- an encouraging sign for policymakers battling to lower cost pressures.
The key inflation gauge, the consumer price index (CPI), rose 3.0 percent from a year ago last month, down from 4.0 percent in May and slightly lower than analysts expected.
The US Federal Reserve has raised interest rates rapidly over the last year to ease demand and bring down price increases.
While Fed officials have signaled that further rate hikes are likely needed to bring inflation back to their two percent target, the June CPI report will heighten market doubts about the number of additional increases needed down the line.
Although "too many Fed officials have made it clear that they think further hikes are needed," suggesting another increase this month, a good CPI report could change prospects of whether another rise in September is needed, Pantheon Macroeconomics said in a recent report.
June's consumer inflation figure marks the lowest annual rate in more than two years.
In another positive sign, the monthly "core" rate -- excluding the volatile food and energy components -- came to its lowest reading since late 2021 at 0.2 percent.
While the index for shelter remained the "largest contributor" to the overall monthly increase and the index for car insurance also contributed, other areas saw declines including airfares and used vehicles, the Labor Department said.

Inflation still remains slightly above the Reserve Bank of India's target of 4%. In the recent credit policy announcement the RBI MPC left the repo rate unchanged for the 2nd time in a row

Retail inflation for May falls to lowest level in over 2 years; factory output rises 

Inflation still remains slightly above the Reserve Bank of India's target of 4%. In the recent credit policy announcement on the 8th of June, the RBI monetary policy committee left the repo rate unchanged for the second time in a row

In some good news coming in for the economy, retail inflation in the month of May has fallen to its lowest level in 25 months. Meanwhile India's factory output or Index of Industrial Production (IIP) went up sharply to 4.2% in April versus 1.1% in March. May CPI (Consumer price index) has come in at 4.25% versus 4.7% in April. Prices of vegetables have marked decline leading to overall food inflation coming in at 2.91%. However, inflation still remains slightly above the Reserve Bank of India's target of 4%. In the recent credit policy announcement on the 8th of June, the RBI monetary policy committee left the repo rate unchanged for the second time in a row. However, RBI Governor Shaktikanta Das had said that withdrawal of accommodation stance has been maintained and further monetary action will be taken promptly as required. The governor also warned that although inflation has moderated but pressures remain, that could surface during the second half of the year. RBI's inflation forecast for FY24 is 5.1%, slightly lower than the earlier projection of 5.2%.&nbsp; Since May 2022, the repo rate has been raised by a total of 250 basis points to bring inflation under control.
&nbsp;

From mangoes to boat fares to umbrellas, prices of several items have been on the rise. A report by Mint shows that prices of mangoes have risen by an average of 10.4% annually since 2015. 







Summer inflation in India: from mangoes to umbrellas; here's how much is it impacting you 

From mangoes to boat fares to umbrellas, prices of several items have been on the rise. A report by Mint shows that prices of mangoes have risen by an average of 10.4% annually since 2015.&nbsp;
&nbsp;
&nbsp;

From milk, curd to cold beverages, the prices of all staple summer foods items are soaring high.&nbsp;
The prices of mangoes&ndash;the king of fruits, is also going up. According to a report by mint, mangoes have become consistently dearer over the years, with prices rising by an average of 10.4% annually since 2015.
Mango is one of the 299 items that determine India&rsquo;s consumer price index (CPI) and holds significance because it&rsquo;s a summer staple.&nbsp;
The Mint report further adds that data of select items for the April-June period since 2015 shows average inflation of over 4% for mangoes, muskmelon, milk, curd, and cold beverages among food items.
The same is true for some items linked to vacations and holidays: steamer and boat fares, porter charges, recreation and amusement, and umbrellas.&nbsp;

In March of this year, the Consumer Food Price Index (CFPI) in India reduced to 4.79 percent from 5.95 percent in February and 7.68 percent in March 2022

'India has managed food inflation very well in difficult global conditions'

India has managed food inflation very well in difficult global conditions

In March of this year, the Consumer Food Price Index (CFPI) in India reduced to 4.79 percent from 5.95 percent in February and 7.68 percent in March 2022

Several countries currently have been facing food crises all over the world including advanced economies, but India has managed to control its inflation trend trajectory 'very well'
Consumer food price index (CFPI) levels in India decreased from 5.95% in February and 7.68% in March 2022 to 4.79% in March of this year. At the same time that the US and European economies are struggling to recover from Covid-19&rsquo;s economic disruption and in the wake of the Russia-Ukraine war, inflation rates in those countries have been significantly beyond their tolerance levels.
In the US, the UK, and Euro Area, the food inflation is 8.5 per cent, 19.1 per cent, and 17.5 per cent, data put out by the World of Statistics on its Twitter handle showed.
Food inflation in nations like Lebanon, Venezuela, Argentina, and Zimbabwe is 352 percent, 168%, 110 percent, and 102 percent.
A member of the Prime Minister&rsquo;s Economic Advisory Council named Prof Shamika Ravi tweeted, 'Well done India &ndash; for managing food inflation so well (at such challenging global circumstances!)'.
She included information about food inflation from several countries that were tweeted by 'World of Statistics '.
India is among the six countries towards the bottom half of the list whose food inflation is less than five per cent.
The government has taken action to contain the increase of food rates.

Public and private sector workers have been striking since last year to try and win increases to pay, whose value has been eroded by elevated inflation

UK unemployment rises as cost-of-living crisis bites

Public and private sector workers have been striking since last year to try and win increases to pay, whose value has been eroded by elevated inflation

UK unemployment edged higher in the three months to the end of February, official data showed Tuesday, as the economy continues to be impacted by high inflation.
The rate increased to 3.8 percent from 3.7 percent in the three months to the end of January, the Office for National Statistics said in a statement.
The ONS said the increase "was driven by people unemployed for up to six months".
Darren Morgan, director of economic statistics, said the number of days lost to strikes picked up again in February.
Public and private sector workers have been striking since last year to try and win increases to pay, whose value has been eroded by elevated inflation.
"Pay continues to grow more slowly than prices, so earnings are still falling in real terms," Morgan said.
He added that while job vacancies have fallen, they "remain at very high levels".

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