
Russian crude absorbs India's boiling inflation
CPI declined to 6.77% in October from 7.41% in September when Russia topped the chart of India's oil suppliers.
CPI declined to 6.77% in October from 7.41% in September when Russia topped the chart of India's oil suppliers.
Retail inflation remains above the Reserve Bank of India's (RBI) upper tolerance band of 6% for the 10th consecutive month.
Headline inflation is set to ease from its September high, albeit stubbornly, on the back of easing momentum and favourable base effects, says RBI.
The manufacturing sector grew 3.2% in July, power generation rose 2.3%, while mining output contracted 3.3% during the month under review, the NSO data showed.
Inflation had been rising in the Indian economy as an impact of the supply disruption and high commodity prices in the wake of the Russia-Ukraine war.
Inflation in the food basket declined from 8.31% in April to 7.97% in May.
While the Reserve Bank of India kept policy rates and its accommodative stance unchanged, additional monetary measures have been brought in to fight the second wave of Covid-19.
Amid state-wide lockdowns imposed to tackle the surge in Coronavirus cases, and supply-chain disruptions, concerns of rising inflation remain.
It is the time of the year to start chasing dark clouds over the Arabian Sea. Normal rains will offset the demand recession induced by the pandemic and wash away a lot of the country’s woes.
The central bank unveils liquidity facility of ₹50,000 crore for access to emergency health services, and ₹10,000 crore for small finance banks’ on-lending, among a slew of measures to fight Covid-19.