Monday, 20 January, 2020


Retail inflation spikes to 7.35% in December from 5.54% in November

GDP growth money inflation Food edible price rise vegetables retail stores grocery market buyers consumers customers spending Representative image $.first().removeAttr;$.first().css
Conrad Doyle | 13 January, 2020, 21:26

As per the data released by National Statistical Office (NSO) on Monday, the spike in inflation in the vegetable segment was 60.5 per cent during the month compared to December 2018.

With prices of onions and garlic among others soaring to record highs, vegetables recorded an inflation rate of 60.50% in December, as against a price increase of 35.99% in November.

Food inflation rose to 14.12 per cent in December as against (-) 2.65 per cent in the same month of 2018.

The retail inflation in December rose to 7.35 percent as opposed to 5.54 percent in November a year ago, going beyond the Reserve Bank of India's set target of keeping inflation between 2 percent to 6 percent.

The central bank, which tracks consumer inflation data primarily while formulating its monetary policy, reduced the repo rate by a total 135 basis points to 5.15 per cent in 2019.

Inflation was pushed up by a rise in food prices and telecom tariffs. The RBI is mandated to keep inflation between 2-6%, with a margin of 2% on either side. Prices of pulses and products rose 15.44%, in rural and urban areas. It appears therefore that CPI (consumer price index) inflation has now breached the upper-end of the central bank's MPC inflation target band (2%-6%) for the first time since July 2016.

In November 2019, retail inflation was recorded at 5.54%, up from 4.62% in October. A rate increase is typically expected to curb inflation when prices are on the rise. Unseasonal weather, which experts say may have been brought on by climate change, have fuelled the price of onions from March 2019.

Nirmala Sitharaman is set to present the budget on February 1, and the RBI's next monetary policy meet is on February 6, where it will take a decision on an interest rate cut.

Icra principal economist Aditi Nayar said the revision in rail fares, uptick in prices of some categories of automobiles and an unfavourable base effect may contribute to a further uptick in the core inflation to around 4 per cent in the ongoing month.

Recommended

loading...
...

Jennifer Aniston, Courteney Cox, and Lisa Kudrow Spent a Sunday Afternoon Together Jennifer Aniston, Courteney Cox, and Lisa Kudrow Spent a Sunday Afternoon Together In the next, "Rachel" is nuzzling "Monica", with a nod to the women's close friendship on the show. "Hi from the girls across the hall", her caption read.

Australia win dramatic doubles to reach ATP Cup semi-finals Australia win dramatic doubles to reach ATP Cup semi-finals Facing a match point in the doubles draw, he removed a back-to-back victor from a service down a narrow gap. So, I'm definitely having a bit of red wine tonight'. "But it was awesome".

Abby Huntsman Leaving The View Abby Huntsman Leaving The View Her father, a Republican, is the former USA ambassador to Russian Federation and China and previously served as Utah governor from 2005 to 2009.

Oscar Nominations 2020: Surprises, Snubs, and 'Joker' Leads the Pack Oscar Nominations 2020: Surprises, Snubs, and 'Joker' Leads the Pack Here is some more of the social media reaction to the snubs, including the exclusion of women from the directing nominees. Neither Beyoncé nor Taylor Swift snagged nominations for their original songs in The Lion King or Cats , respectively.

India open to day-night test in Australia, says Kohli India open to day-night test in Australia, says Kohli Kohli's men, however, took a little over two days to clinch their first pink-ball test, thrashing Bangladesh by an innings and 46 runs in Kolkata in November.

Morbius Trailer Leak Features Spider-Man PS4 Image Morbius Trailer Leak Features Spider-Man PS4 Image We've also seen set photos and videos of Leto as Morbius attached to a high wire wearing what looks to be an orange jump suit. Sony is releasing the movie on July 31, 2020 in the USA and United Kingdom , and on July 30 in Australia.

Musharraf: Death penalty for ex-Pakistan president thrown out Musharraf: Death penalty for ex-Pakistan president thrown out He finally resigned in August 2008 in the face of impeachment proceedings by the new governing coalition and went into exile. Subsequently, hearings into the case had proceeded before a three-member bench of the high court in the provincial capital.

Suspected jihadists strike Niger military; 25 soldiers dead Suspected jihadists strike Niger military; 25 soldiers dead During that time, the insurgency has killed thousands of civilians and displaced more than a million others. Earlier, the national defence ministry said that the attack had claimed the lives of 25 Nigerien soldiers.

Cory Booker ends his presidential campaign Cory Booker ends his presidential campaign He quickly fell behind less experienced candidates like South Bend Mayor Pete Buttigieg in both polling and financial resources. He's always been seen as a progressive Democrat in the Senate, pushing for criminal justice reform and marijuana legalization.

6 takeaways from 49ers' 27-10 playoff win over Vikings 6 takeaways from 49ers' 27-10 playoff win over Vikings When San Francisco's defense is playing at its best, most National Football League offenses have found it hard to move the ball. On the other hand, 49ers receiver Dante Pettis was also issued a drug test after the game, despite not playing a single snap.

92nd Oscar nominations announcement scheduled for Monday morning 92nd Oscar nominations announcement scheduled for Monday morning The year 2019 has seen great content across categories and hence it will going to be hard to pick one for any of the sections. But there are always spoilers and surprises waiting in the wings, ready to drop our jaws on Oscar nominations morning.

A NASA High School Intern Helps Discover Planet With Two Suns A NASA High School Intern Helps Discover Planet With Two Suns Cukier's contribution of examining the star data and the passes of the planet in front of both stars was key to identifying it. Being in a star's habitable area means that a planet has temperatures that could permit liquid water to exist on the surface.

Texans-KC set National Football League playoff record with 52 points in 1st half Texans-KC set National Football League  playoff record with 52 points in 1st half Once again, it was Mahomes finding Kelce, and this time, the score cut the Texans' lead to 24-21. If you're scoring at home, the first touchdown came at the 9:55 mark of the second quarter.

Pataudi Memorial Lecture: Sehwag cautions cricketers on corruption, doping in cricket Pataudi Memorial Lecture: Sehwag cautions cricketers on corruption, doping in cricket "It's become a very exciting feature of any series, so we are absolutely open to play a day-night Test ". The player was subsequently banned for two years though one year of that was suspended later.

William Hill finance chief Ruth Prior to step down The previous max stake was £100 ($130), with the machines generating significant revenue for the betting shops as a result. It brings its total number of shops in Northern Ireland to 39, and the number of shops on the island to 298.