SBI Research also pointed out that if tomato prices continue to increase, CPI based inflation – retail inflation – will touch 6%, which is the upper tolerance limit of the Reserve Bank of India.
Wholesale inflation for manufactured products declined to -2.97% in May from -2.42% in April. Wholesale inflation for food products declined from 0.17% in April to -1.59% in May.
The latest round of the survey was conducted between May 2 to May 11, 2023, covering 6,089 respondents.
RBI, in its latest MPC meet, enables Bharat Bill Payment System to accept cross-border inward bill payments. It'll greatly benefit senior citizens in particular
The ₹2,000 note share continues to drop in FY22; in value terms, the share of ₹500 and ₹2,000 notes together rose to 87.1% of total value of banknotes in circulation.
Russia’s invasion of Ukraine and high inflation have forced the IMF to slash global growth forecast from 6.1% in 2021 to 3.6% in 2022 and 2023.
