Page 51 - Latest Updates on Inflation
What is downtrading?
People are hit by rising inflation. Like the FMCGs, which resorted to shrinkflation, consumers are now shifting to affordable products due to soaring prices. It is called downtrading. Let's know more
 "What is downtrading?")
Russian central bank slashes key rate to 11%, sees room to cut further
It announced the move at an extraordinary meeting after cutting the key rate to 14 per cent in April
 "Russian central bank slashes key rate to 11%, sees room to cut further")
Moody's cuts CY22 India GDP growth forecast to 8.8% amid rising inflation
Says rise in crude, food, and fertiliser prices will weigh on household spending
 "Moody's cuts CY22 India GDP growth forecast to 8.8% amid rising inflation")
RBI to hike repo rate by 50 bps, lower FY23 growth to 7% in June: Barclays
The central bank will likely revise its inflation estimate to 6.2-6.5 per cent, which is way above the upper end of its tolerance band of 2-6 per cent, the economists at Barclays said
 "RBI to hike repo rate by 50 bps, lower FY23 growth to 7% in June: Barclays")
Market strategy: Time to buy, sell or hold stocks? Here's what analysts say
Timing the markets to catch a low, analysts caution, will not be a wise strategy at the current levels given the slew of domestic and global developments over the next few weeks
 "Market strategy: Time to buy, sell or hold stocks? Here's what analysts say")
US economy contracted by 1.5% in Q1, but consumers kept spending
Last quarter's drop in the US gross domestic product the broadest gauge of economic output does not likely signal the start of a recession.
 "US economy contracted by 1.5% in Q1, but consumers kept spending")
Inflation, rates hikes may push yields up further: DSP Investment's Yadav
In a Q&A, the head of the fixed income vertical at the firm says the 10-year benchmark rising above 7% is normal and not a sign of instability
 "Inflation, rates hikes may push yields up further: DSP Investment's Yadav")
Inflationary concerns may delay GST rate rationalisation: Report
With the inflation rate ruling at an all-time high, there is hardly any scope for GST rate rationalisation, say sources
 "Inflationary concerns may delay GST rate rationalisation: Report")
Retail inflation may settle at 5.7-6.9% in FY23 after fuel duty cuts
Economists expect 40-50 bps hike in repo rate by MPC next month
 "Retail inflation may settle at 5.7-6.9% in FY23 after fuel duty cuts")
Default threat reaches Pak as inflation rises, political crisis worsens
Without a bailout from the International Monetary Fund, Pakistan may default for the second time in its history amidst inflation at its peak.
 "Default threat reaches Pak as inflation rises, political crisis worsens")
Govt imposes restrictions on sugar exports from June 1, says DGFT
However, it said that these restrictions would not be applicable on sugar being exported to the EU and the US under CXL and TRQ
 "Govt imposes restrictions on sugar exports from June 1, says DGFT")
Wall Street drops as economic data, weak forecasts re-ignite slowdown fears
Snap set for worst day on record after profit warning; Abercrombie & Fitch slumps after lowering revenue outlook
 "Wall Street drops as economic data, weak forecasts re-ignite slowdown fears")
India's entry-level cars lose steam as buyers wait it out in inflation
Industry's shift to more expensive models and international chip shortage drag down volumes to a 7-year-low
 "India's entry-level cars lose steam as buyers wait it out in inflation")
Rupee rebounds 15 paise to 77.55 on weak dollar, expected RBI rate hike
At the interbank forex market, the domestic unit opened at 77.69 against the US dollar. It moved in a range of 77.51 to 77.69 during the session
 "Rupee rebounds 15 paise to 77.55 on weak dollar, expected RBI rate hike")
Asia stocks stifled by inflation, rising interest rates and China concerns
MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3% as the region's major markets traded in the red. Oil rose and gold extended its recent gains
 "Asia stocks stifled by inflation, rising interest rates and China concerns")
Oil prices at $110/barrel pose 'bigger threats' than inflation: Puri
Oil minister Hardeep Singh Puri said oil prices staying at $110/barrel could pose bigger threats than inflation to the global economy.
 "Oil prices at $110/barrel pose 'bigger threats' than inflation: Puri")
Best of BS Opinion: Confusing Sebi rules, Cong's electoral prospects & more
Here is the Best of BS Opinion for Monday
 "Best of BS Opinion: Confusing Sebi rules, Cong's electoral prospects & more")
China, climate & inflation: New Australian PM has his task cut out
Albanese seized upon the rising cost of living as a key issue in his attack on the outgoing coalition govt
 "China, climate & inflation: New Australian PM has his task cut out")
Opposition states follow Centre, reduce VAT on petrol and diesel
However, among BJP-ruled states, Gujarat was unlikely to follow suit and reduce VAT on petrol and diesel, said senior officials
 "Opposition states follow Centre, reduce VAT on petrol and diesel")
Centre likely to spend another $26 billion in FY23 to fight inflation
The government estimates another Rs 500 billion additional funds will be needed to subsidise fertilisers, from the current estimate of Rs 2.15 trillion, two officials said
 "Centre likely to spend another $26 billion in FY23 to fight inflation")
