Repeated hikes in CNG, petrol and diesel prices across metro cities are expected to increase commuting and logistics costs, adding fresh pressure on consumers and transport operators.
Congress president Mallikarjun Kharge on Monday launched a sharp attack on Prime Minister Narendra Modi over rising inflation, unemployment and the condition of the economy, alleging that the Centre had failed to provide relief to citizens struggling with financial hardship.
India’s inflation numbers are beginning to tell two very different stories. One is reassuring.
Americans are paying more for groceries, gasoline and other everyday necessities as inflation accelerates again, with economists increasingly pointing to geopolitical conflict and energy disruptions as key drivers of rising living costs.
A sharp increase in petrol and diesel prices in Punjab has raised concerns over rising transport costs, agricultural expenses and a possible spike in essential commodity prices.
The latest data on US inflation is setting the stage for a pivotal moment in economic policy, as the Consumer Price Index (CPI) rose a modest 0.2 per cent in July, and the year-on-year increase fell to 2.9 per cent, the smallest since 2021.
Inflation in July dropped to the lowest point in the last three years in the US, according to data released on Wednesday, setting up a likely rate cut by the Federal Reserve next month.
India's July retail inflation rate of 3.54 per cent has reached a five-year low, signalling a positive shift for the economy. This decline, largely due to a decrease in food inflation and a favourable base effect, has exceeded expectations and brought relief to consumers and policymakers alike.
The inflation in food prices stood at 3.45% during the month, compared to 10.87% in June.
In an era marked by economic turbulence and fluctuating market sentiments, the Reserve Bank of India’s (RBI) decision to hold its key interest rate steady at 6.50 per cent for the ninth consecutive policy meeting speaks volumes about its strategic approach to monetary policy.
