Page 40 - Latest Updates on Inflation
Pakistan raises power prices amid energy crisis despite rampant inflation
Inflation last month reached 21.3%, driven mainly by rising food costs, and the country also faces fast-depleting foreign reserves, a depreciating currency and widening current account deficit
 "Pakistan raises power prices amid energy crisis despite rampant inflation")
Markets dip for a second day ahead of Fed rate hike; Sensex falls 497 pts
The Sensex ended the session at 55,268, with a decline of 497 points, or 0.9 per cent
 "Markets dip for a second day ahead of Fed rate hike; Sensex falls 497 pts")
IMF cuts global growth forecast for next 18 mths, ups inflation projection
The IMF said problems in the US, China and the eurozone had resulted in global output falling in the second quarter of this year -- the first contraction since the start of the Covid-19 pandemic.
 "IMF cuts global growth forecast for next 18 mths, ups inflation projection")
Amazon hikes Prime subscription prices in UK, Europe by up to 43%
In an email to customers blaming "increased inflation and operating costs" for the hike, the e-commerce giant said that its annual Prime subscription will jump 20 per cent in the UK to 95 pounds
 "Amazon hikes Prime subscription prices in UK, Europe by up to 43%")
Fed rate-path uncertainty, European gas crunch dominate currency markets
The U.S. Federal Reserve starts a two-day meeting later in the day and is expected to deliver a 75 basis-point interest rate rise.
 "Fed rate-path uncertainty, European gas crunch dominate currency markets")
Zimbabwe debuts gold coin as legal tender to stem inflation, boost currency
The unprecedented move was announced on Monday by the country's central bank, the Reserve Bank of Zimbabwe, to boost confidence in the local currency
 "Zimbabwe debuts gold coin as legal tender to stem inflation, boost currency")
Dow Jones rises at start of big earnings week, Microsoft drags Nasdaq
The S&P 500 was up 5.49 points, or 0.14%, at 3,967.12, while the Nasdaq Composite was down 26.93 points, or 0.23%, at 11,807.19
 "Dow Jones rises at start of big earnings week, Microsoft drags Nasdaq")
US Fed expected to raise rates by 0.75 percentage points in July: Report
The report also showed a sharp rise in so-called core inflation - which strips out the volatile food and energy sectors - led by higher rent and shelter costs.
 "US Fed expected to raise rates by 0.75 percentage points in July: Report")
Pak rupee slumps to record low of 230 against dollar amid inflation fears
The Pakistani rupee has dropped to a record low against the US dollar with the exchange rate sliding to PKR 230, local media reported on Monday.
 "Pak rupee slumps to record low of 230 against dollar amid inflation fears")
India should adopt differentiated inflation targeting
Many commentators have laid blame on tight inflation targeting for fall in our growth rates and persistent unemployment
 "India should adopt differentiated inflation targeting")
Top Headlines: Inflation impact on India Inc profit, new SEZ law, and more
The early-bird results for the April-June 2022 quarter hinted at a decline in earnings, even as corporate revenue continued to grow at a fast clip
 "Top Headlines: Inflation impact on India Inc profit, new SEZ law, and more")
Revenue-oriented policies need to be reviewed to fight inflation
However, the government can review its excessive revenue-oriented policies to tackle inflation and boost domestic demand
Q1 early-bird results show inflation effect on India Inc's profits
First sequential contraction in corporate earnings after 4 quarters of expansion
 "Q1 early-bird results show inflation effect on India Inc's profits")
Despite fiscal steps, wheat, pulses and LPG see high inflation in July
The government announced a number of fiscal steps after overall inflation refused to come below six per cent since January this year.
 "Despite fiscal steps, wheat, pulses and LPG see high inflation in July")
At 50 basis points, European Central Bank's rate hike higher than expected
Euro zone central bank's first rate hike in 11 years confirms that concerns about runaway inflation now trump growth considerations
 "At 50 basis points, European Central Bank's rate hike higher than expected")
Markets surge amid 'peak inflation' optimism, gain now 4% in 4 days
Sensex closes at highest level since June 6; Up 8% from CY22 lows
 "Markets surge amid 'peak inflation' optimism, gain now 4% in 4 days")
Copper rises from multi-month lows as upbeat sentiment lifts base metal
A weaker U.S. dollar in recent days has also helped metals, which are priced in the greenback, by making them cheaper for buyers with other currencies.
 "Copper rises from multi-month lows as upbeat sentiment lifts base metal")
Sensex up 630 pts, Nifty atop 16,500; ONGC, RIL, Infy, TCS top contributors
CLOSING BELL: ONGC, Tech M, Reliance Industries, TCS, HCL Tech, SBI, and Infosys were the top gainers, up between 2 per cent and 3.7 per cent
 "Sensex up 630 pts, Nifty atop 16,500; ONGC, RIL, Infy, TCS top contributors")
ITC will continue to deliver robust growth despite inflation concerns: Puri
Diversified conglomerate ITC Limited said that the company will continue to deliver robust growth despite key concerns such as inflation
 "ITC will continue to deliver robust growth despite inflation concerns: Puri")
Several supply-side measures taken in last 4 months to cool inflation: FM
Prices of major essential commodities are monitored by the government on a regular basis and corrective action is taken from time to time, she said
 "Several supply-side measures taken in last 4 months to cool inflation: FM")
