Page 24 - Latest Updates on Inflation
IMF lowers growth outlook for 2023 global economy to 2.7% amid Ukraine war
The International Monetary Fund is downgrading its outlook for the world economy for 2023, citing a long list of threats that include Russia's war against Ukraine, chronic inflation pressures
 "IMF lowers growth outlook for 2023 global economy to 2.7% amid Ukraine war")
Fire-fighting Bank of England forced to buy inflation-linked bonds
Bank of England says will buy index-linked gilts, a move that represents new headache for UK PM Truss; bank warns of "material risk" to financial stability
 "Fire-fighting Bank of England forced to buy inflation-linked bonds")
FMCG companies may see price hike-led revenue growth In July-September
Volumes to remain under pressure due to grammage reductions
 "FMCG companies may see price hike-led revenue growth In July-September")
Sept retail inflation likely to hit five-month high of 7.30% on food prices
India's retail inflation accelerated to a five month high of 7.30% in September due to surging food prices, staying well above the Reserve Bank of India's (RBI) upper tolerance band
 "Sept retail inflation likely to hit five-month high of 7.30% on food prices")
Statsguru: Six charts show mounting trade troubles amid uncertain outlook
WTO also revised global growth figures downwards. It now expects the world to register a 2.3 per cent growth, compared to the April estimate of 3.2 per cent for 2023
 "Statsguru: Six charts show mounting trade troubles amid uncertain outlook")
Prices of wheat continue to soar despite govt's price control measures
Despite government's effort to check the spiralling prices of essential kitchen commodities, the average retail prices of these items including wheat continue to rise
 "Prices of wheat continue to soar despite govt's price control measures")
Issues like inflation, unemployment should be core to politics: Congress
Congress says that inflation and unemployment should be core to politics and people's issues should be the main topic of public discourse
 "Issues like inflation, unemployment should be core to politics: Congress")
UK needs to cut 200,000 govt jobs over next few years to avoid debt spiral
Public-sector wages are on track to increase 5% this year, around half the current rate of inflation but higher than budgeted when spending plans were drawn up in 2021.
 "UK needs to cut 200,000 govt jobs over next few years to avoid debt spiral")
Crypto weekly wrap: Binance hack, inflation fears keep volatility high
The biggest news of the crypto world this week was that roughly $100 million of Binance Coin was stolen by hacking. It has sent the price of Binance down by 4 per cent
 "Crypto weekly wrap: Binance hack, inflation fears keep volatility high")
India's services activity cools to 6-month low in Sep; job creation slows
PMI for services sector released by S&P Global dipped to 54.3 in September from 57.2 in August as weak external demand weighed on overall sales, with international order declining during the month
 "India's services activity cools to 6-month low in Sep; job creation slows")
Wall St drops amid inflation, rate hike worries; megacap growth stocks fall
Megacap growth stocks fall against rise in yields; oil prices add to inflation woes post OPEC+ output cut; US weekly jobless claims increase more than expected
 "Wall St drops amid inflation, rate hike worries; megacap growth stocks fall")
Dabur India flags up to 200 bps margin hit in Q2 as inflation bites
Dabur's consolidated revenue grew 8.1% in the June-quarter, with an operating margin of 19.62%
 "Dabur India flags up to 200 bps margin hit in Q2 as inflation bites")
India's Edelweiss AM says repo rate may hit 6.75% on inflation woes
RBI may have to hike the repo rate to 6.75% as inflation remains a threat, lingering above the central bank's target range for the remainder of the year, the head of fixed income at Edelweiss AM said
Joe Biden writes to S Korean President Yoon Suk-yeol seeking talks on IRA
US President Joe Biden has sent a letter to South Korean President Yoon Suk-yeol expressing his willingness to continue frank and open-minded talks on the US Inflation Reduction Act
 "Joe Biden writes to S Korean President Yoon Suk-yeol seeking talks on IRA")
86% of global CEOs see recession within 12 months, finds KPMG survey
46% of corporate leaders considering job cuts over the next six months
 "86% of global CEOs see recession within 12 months, finds KPMG survey")
UK PM Liz Truss hints at benefits cuts, courts fresh Tory rebellion
When people are on a fixed income, when they are pensioners, it is quite hard to adjust. It's a different situation for people who are in the position to be able to work, said Liz Truss
 "UK PM Liz Truss hints at benefits cuts, courts fresh Tory rebellion")
US job openings sink amid higher rates and slower growth in August
The number of available jobs in the US plummeted in August compared with July, a sign that businesses may pull back further on hiring and potentially cool chronically high inflation
 "US job openings sink amid higher rates and slower growth in August")
Reduction in sown acreage to feed inflation: Bank of Baroda report
The reduction in sown area for rice and pulses during Kharif season is expected to feed inflation in the coming months, said Bank of Baroda in a report.
 "Reduction in sown acreage to feed inflation: Bank of Baroda report")
Sri Lanka's central bank to hold rates as inflation worries persist
The CBSL has raised rates by a record 950 basis points this year to battle high inflation which is adding to the country's economic woes
 "Sri Lanka's central bank to hold rates as inflation worries persist")
Turkey inflation hits fresh 24-year high of 83% in September, shows data
The acceleration follows a series of interest-rate cuts this year by central bank Governor Sahap Kavcioglu that threaten to pile even more pressure on inflation
 "Turkey inflation hits fresh 24-year high of 83% in September, shows data")
