Page 39 - Latest Updates on Inflation
Crypto watch: Winter in the market is not over yet, argue experts
As the cryptocurrency market cap crossed $1.1 trillion mark on Friday and Bitcoin rose above $24,000, experts said that 'we are not there yet'
 "Crypto watch: Winter in the market is not over yet, argue experts")
Inflation hits record 8.9% in 19 countries using euro amid Ukraine conflict
Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices driven partly by Russia's war in Ukraine.
 "Inflation hits record 8.9% in 19 countries using euro amid Ukraine conflict")
S Koren Prez's approval rating sinks below 30% amid inflation, controversy
South Korean President Yoon Suk-yeol's approval rating fell to a new low, going below 30% for the first time, amid soaring inflation and controversy over personnel appointments, a poll revealed
 "S Koren Prez's approval rating sinks below 30% amid inflation, controversy")
US Fed's pyrrhic victory over inflation after policy rate hiked by 75 bps
Powell cannot afford to take his eyes off the prize - to get inflation down
 "US Fed's pyrrhic victory over inflation after policy rate hiked by 75 bps")
Gold jewellery demand in India likely to dip in H2: World Gold Council
At the global level, the demand for gold (excluding OTC) was 8 per cent lower y-o-y at 948 tonnes. Combined with Q1-2022, the total demand in the first half of 2022 came in at 2,189t, up 12 per cent
 "Gold jewellery demand in India likely to dip in H2: World Gold Council")
Rupees, bonds gain despite 75 bps US Fed rate hike to tackle inflation
Markets perceive Fed as being less hawkish
 "Rupees, bonds gain despite 75 bps US Fed rate hike to tackle inflation")
Experts expect some inflation, CAD relief after US Fed hikes rates
MPC will be guided more by domestic inflation-growth dynamics than US central bank measures, they say
 "Experts expect some inflation, CAD relief after US Fed hikes rates")
US economy shrinks for a second quarter, fueling recession fears
Surging inflation, rising rates, and continued supply chain snags to blame
 "US economy shrinks for a second quarter, fueling recession fears")
Mastercard warns of inflation pinch after solid quarter for card issuers
Consumers across the globe have been showing signs of cracking in face of decades-high price pressures, with purchases at retailers including Walmart shifting away from big-ticket items to essentials
 "Mastercard warns of inflation pinch after solid quarter for card issuers")
Dollar pares gains as US economic growth contracts for second quarter
The second straight quarterly decline in GDP meets the standard definition of a recession. It comes as the Fed aggressively hikes rates in an attempt to choke off soaring inflation.
 "Dollar pares gains as US economic growth contracts for second quarter")
Global shares take breather after Fed rally, dollar retreats on yen
The U.S. Federal Reserve had surprised no one by lifting rates 75 basis points (bps) to 2.25%-2.50% on Wednesday, but did alter its statement to cite some softening in recent data.
 "Global shares take breather after Fed rally, dollar retreats on yen")
US economy seen narrowly averting back-to-back contractions in Q2
Economists expect GDP to grow at annualised 0.4% in April-June period; consumer spending likely decelerated 1.2% on an annual basis
 "US economy seen narrowly averting back-to-back contractions in Q2")
ECGC to conduct special country rating review on surge in global inflation
There has been a sharp rise in prices of inputs impacting international trade after the Russia-Ukraine conflict early this year
 "ECGC to conduct special country rating review on surge in global inflation")
RBI MPC preview: Das and Co may hike repo rate by 25-50 bps in August
If the inflation remains above 6% on average for the next three months, the RBI will have to explain to the govt in writing the reasons for its failure to keep the rate of price rise in check
 "RBI MPC preview: Das and Co may hike repo rate by 25-50 bps in August")
And now sneaky shrinkflation is driving people crazy in the United States
Measuring inflation is hard. The goal is to capture changes in the overall price level - the numbers on every price tag - not swings in relative prices
 "And now sneaky shrinkflation is driving people crazy in the United States")
Global economy in grips of serious slowdown, inflation surge to endure
The global economy is in the grips of a serious slowdown, with some key economies at high risk of recession and only sparse meaningful cooling in inflation over the next year
Unilever hikes prices for products due to inflation, expects strong sales
The challenges of inflation persist and the global macroeconomic outlook is uncertain, but we remain intensely focused on operational excellence and delivery in 2022 and beyond, CEO Alan Jope said.
 "Unilever hikes prices for products due to inflation, expects strong sales")
Consumption weakness seen in rural India: Unilever CEO Alan Jope
During the quarter, HUL reported 19.5 per cent growth and the company took a 12 per cent price increase across its portfolio
 "Consumption weakness seen in rural India: Unilever CEO Alan Jope")
Gold price stalls as pre-Federal Reserve verdict jitters grip investors
Spot gold was flat at $1,719.49 per ounce by 1438 GMT. U.S. gold futures were little changed at $1,719.10.
 "Gold price stalls as pre-Federal Reserve verdict jitters grip investors")
US Fed on track for most aggressive rate hike cycle in 2022: Report
Cumulatively, this would be tantamount to about 350 bps rate hike during 2022, making it the most aggressive rate hike cycle, Acuite Ratings said in a report.
 "US Fed on track for most aggressive rate hike cycle in 2022: Report")
