New Delhi: The headline inflation dropped to its lowest since 2009 in the month of April at 4.89 per cent, a level seen comfortable for the RBI to persist with monetary easing to revive a flagging economy.
April's reading is well below the 5.50 per cent estimated by analysts in a Reuters poll. The wholesale price index, India's main inflation measure, rose an annual 5.96 per cent in March.
The reading for February was revised to 7.28 per cent from 6.84 per cent, the government data showed on Tuesday.
The number sparked gains in bond markets, which had already rallied since last week on expectations easing inflation would lead the RBI to cut interest rates further. "It is a frenzy. The market is pricing in a rate cut," said Ashish Vaidya, head of treasury at UBS in Mumbai....
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12:21 PM, May 14, 2013
Mumbai: Amid ongoing stand-off between traders and state government over proposed imposition of Local Body Tax (LBT), Maharashtra Navnirman Sena chief Raj Thackeray on Sunday asked traders to not hold common people to ransom and open their shops. In a press statement issued in Mumbai, Raj said that LBT, to be imposed in Mumbai and some municipal corporations in the state from October 1, either be scrapped or amended. "Henceforth,...
11:47 PM, May 12, 2013
Mumbai: Perturbed by strident opposition to imposition of Local Body Tax (LBT) in Mumbai and some municipal corporations from October 1, Maharashtra Chief Minister Prithviraj Chavan on Sunday asked Congress leaders to "clear misconceptions" pertaining to the levy. "The chief minister asked state Congress leaders, including MPCC chief Manikrao Thakre and Mumbai Congress president Janardhan Chandurkar, to clear misconceptions of traders, merchants and opposition parties about LBT," Chavan was quoted...
11:36 PM, May 12, 2013
Mumbai: Wholesalers in the city would continue to observe bandh against the local body tax (LBT) even as associations representing retailers called off their strike on Saturday. "Despite a section of the retailers calling off the strike, wholesalers' strike against LBT will continue," Federation of Associations of Maharashtra President Mohan Gurnani said in a statement in Mumbai. The Federation of Retail Traders Welfare Association, led by Viren Shah, had announced...
11:24 PM, May 12, 2013
More than five lakh wholesalers in Maharashtra have called for an indefinite strike starting from Monday. The strike comes in proetst against the Local Body Tax. The retailers claim that Maharashtra is the only state that has a tax in addition to VAT. ...
02:47 PM, May 06, 2013
New Delhi: Retail inflation declined to 10.39 per cent in March, snapping the five month rising trend, as prices of vegetables and protein based items eased. The Consumer Price Index (CPI) based inflation was at 10.91 per cent in February. The inflation, however, continued to remain in the double digit terrain for the fourth consecutive month in March. The prices in the vegetables basket eased to 12.16 per cent in...
11:41 AM, Apr 12, 2013
India's headline inflation slowed down to its lowest level in three years, hardening expectations for an interest rate cut by the RBI later in January to boost an economy that is set to post its slowest growth in a decade. ...
12:26 PM, Jan 14, 2013
Lawmakers are making public emails that show that Wal-Mart Stores Inc's cheif executive officer found out in 2005 that the retailer was handing out bribes in Mexico. Democratic Congressmen Elijah E Cummings and Henry A Waxman, who are investigating bribery charges at Wal-Mart's Mexico division, on Friday released emails that indicate that Mike Duke and other senior Wal-Mart officials were informed multiple times starting in 2005 about bribes being made...
07:20 AM, Jan 11, 2013
Mumbai: Shiv Sena on Sunday said that the party has not called any bandh in Maharashtra on Monday in lieu of Bal Thackeray's demise. Uddhav Thackeray's personal secretary Milind Narvekar said that Shiv Sena has not called a bandh either in Maharashtra or in Mumbai on Monday. However, Federation of Associations of Maharashtra (FAM) called upon its constituents and the trading community to observe a bandh in Maharashtra on Monday...
08:25 PM, Nov 18, 2012
New Delhi: Notwithstanding the slight decline in Wholesale Price Index (WPI) inflation in October, inflationary pressures are likely to continue in the months ahead and may touch 8.2 per cent by the year end, says a report. According to a research note by Morgan Stanley, WPI inflation is likely to accelerate to around 8-8.2 per cent by December 2012 before moderating to the 7-7.5 per cent level by the quarter...
10:42 AM, Nov 18, 2012
New Delhi: Rising fuel prices boosted Indian inflation in September to 7.8 per cent, its highest level since November, undermining the government case calling for an interest rate cut by the RBI this month to boost the sluggish economy. The rise in the wholesale price index - India's main inflation gauge - was more than expected. Economists in a Reuters poll had expected an inflation reading of 7.7 per cent,...
12:24 PM, Oct 15, 2012
India's wholesale price index (WPI) rose a lower-than-expected 6.87 per cent in July from a year earlier, mainly driven by higher food prices, government data showed on Tuesday. A CNBC-TV18 poll had an annual rise of 7.25 per cent. The annual reading for May remained unchanged at 7.55 per cent. June's inflation was provisionally put at 7.25 per cent. July WPI inflation highlights - Manufactured Products Inflation At 5.58 per...
12:51 PM, Aug 14, 2012
New Delhi: India's wholesale price index (WPI) rose a lower-than-expected 7.25 per cent in June from a year earlier, mainly driven by higher food prices, government data showed on Monday. Analysts on average had expected an annual rise of 7.62 per cent. Wholesale prices provisionally rose 7.55 per cent in May. The annual reading for April was upwardly revised to 7.5 per cent from 7.23 per cent, the government said...
11:59 AM, Jul 16, 2012
New Delhi Inflation moved up to 7.55 per cent in May because of spurt in prices of potato, pulses and wheat, although onion and fruits showed a declining trend. Inflation, as measured by the Wholesale Price Index (WPI), was 7.23 per cent in April. In May last year, however, it was 9.56 per cent. Overall food inflation rose to 10.74 per cent in May, from 10.49 per cent in April....
12:47 PM, Jun 14, 2012
New Delhi: India's wholesale price index (WPI) rose a faster-than-expected 7.23 per cent in April from a year earlier, mainly driven by higher food prices and manufactured items, government data showed on Monday. Analysts on average had expected an annual rise of 6.91 per cent. Wholesale prices rose 6.89 percent in March. The annual reading for February was upwardly revised to 7.36 percent from 6.95 percent, the government said in...
12:21 PM, May 14, 2012
New Delhi: The overall inflation in March eased to 6.89 per cent on account of sharp decline in prices of onions, fruits and protein-based items, even as vegetables and pulses turned costlier. Inflation, as measured by the Wholesale Price Index (WPI), was 6.95 per cent in February. In March last year, it was 9.68 per cent. As per the official data released on Monday, inflation in food items was 9.94...
12:25 PM, Apr 16, 2012
New Delhi: Inflation rose to 6.95 per cent in February because of sharp increase in food prices, especially vegetables and protein-based items. Inflation, as measured by the Wholesale Price Index (WPI), was 6.55 per cent in January. In February last year, it was 9.54 per cent. As per the official data released on Wednesday, food inflation was 6.07 per cent in February against (-)0.52 per cent in January. Pulses turned...
12:34 PM, Mar 14, 2012
New Delhi: Inflation based on the all India Consumer Price Index stood at 7.65 per cent in January, as per the first nationwide retail inflation data released by the government on Tuesday. While 'food and beverages' reported a moderate rate of price rise of 4.11 per cent year-on-year in January, the inflation numbers for fuel and light, and clothing, bedding and footwear segments were in double-digits. Overall retail inflation in...
11:59 AM, Feb 21, 2012
New Delhi: Amid signs of moderation in price rise situation in the country, the January inflation numbers are likely to drop below 7 per cent, said Chief Economic Adviser Kaushik Basu. "Inflation figures are going down. The January figure, which you will get in middle of February, my expectation is that it is going to be below 7 per cent ," he said. Basu, who also heads a Prime Minister...
07:05 PM, Jan 31, 2012
New Delhi: Food inflation remained in the negative zone for the fourth week in a row, at (-)1.03 per cent for the week ended January 14, on account of cheaper vegetables. Food inflation, as measured by the Wholesale Price Index (WPI), was at (-)0.42 per cent in the previous week. It was above 17 per cent in the corresponding week of 2011. According to the official data released on Friday,...
12:16 PM, Jan 27, 2012
