Page 2 - Cpi

Multiple factors doubled retail inflation rate in wheat, rice since April

The spike in the prices of these two cereals was diametrically opposite to the cooling of the overall inflation rate and of food inflation, both of which hit a three-month low

Sensex falls 171 pts, Nifty holds 18,300; Dr.Reddy's down 4%, LIC jumps 6%

CLOSING BELL: The key benchmark indices gyrated in a narrow trading band on Monday, before settling with losses as FMCG stocks slipped.

D Raja re-elected as CPI general secretary at 24th party congress

The CPI unanimously re-elected senior leader D Raja as its general secretary at the conclusion of the 24th party congress at Vijaywada in Andhra Pradesh on Tuesday. Raja took over the reins of the party in July 2019, after its incumbent general secretary, Sudhakar Reddy, stepped down due to ill-health. The 73-year-old leader is the first person from the Dalit community to occupy the position in a mainstream communist party. On being re-elected, Raja said the primary agenda of his party will be to defeat the BJP. He called on a united Left to defeat the RSS-BJP combine. Criticising the Narendra Modi government at the Centre, he said it seeks to redefine and dismantle a secular India. Raja also expressed concerns over recent electoral performances of the Communist Party of India (CPI), which will complete 100 years in 2025. "We need to rejuvenate the party and also focus on being involved in mass movements," he said.

Despite economic recovery, real rural wage growth remains flat in FY23

The growth in nominal terms has been steady but the sharp rise in inflation seems to have eaten into the increase

As MPC fails on CPI mandate, RBI's growth-inflation balance gets trickier

The central bank will now have to provide a report to the government explaining the reasons for the failure and the steps to be taken

India's inflation at 7.4%; What are inflation numbers in other countries?

Since the start of the Russia-Ukraine war in February, almost all the economies have been facing high inflation mainly driven by high commodity costs, and supply chain constraints

Best of BS Opinion: India's Ukraine destiny, U-turn in UK, and more

Here is the best of Business Standard's opinion pieces for today

Service sector may be included in the Wholesale Price Index soon: Report

A government panel headed by Niti Aayog's Ramesh Chand is finalising the changes in the WPI to include 60 per cent of the economy for the first time

Inflation seen staying above 4% in FY23, to average 5.2% in FY24: RBI

Das says RBI won't make public the communication on failure of achieving target to govt

OECD, S&P keep India's economic growth forecasts unchanged for FY23

S&P noted that India's domestic recovery from Covid-19 would continue to support growth in FY23

Rescue Indian workers duped into bonded labour in Myanmar, CPI urges Centre

Workers hailing from Tamil Nadu were duped on the pretext of job offers and forced into bonded labour in Myanmar, the CPI said on Monday and urged Prime Minister Narendra Modi to take immediate steps to rescue them. After falsely promising job opportunities in Thailand, Tamil Nadu workers were taken by unscrupulous elements to Myawaddy in Myanmar and they were forced into bonded labour there, the party said citing social media accounts. In a statement, the Left party's State Secretary R Mutharasan said such workers faced torture in Myanmar and their families back home are distressed. Steps should be taken on a war-footing by the Union government to bring them back home, he urged Modi. Also, the Centre should provide them domestic job opportunities. He alleged that workers faced the agony of seeking employment abroad as the BJP-led Centre has deceived the people on its promise of providing 2 crore job opportunities every year.

Firms starting to pass on rising costs amid pick-up in demand: RBI study

Report says the gap between output and input prices widened during the pandemic, particularly after the first Covid-19 wave

Rupee slides as US CPI data stokes speculation of 100 bps Fed hike

Higher US interest rates typically leads to a stronger dollar and reduces the appeal of emerging market assets for global investors

US inflation sends markets on a wild ride; FPIs pull out Rs 1,400 crore

Sensex swings 1,232 points before settling 224 points lower; FPIs pullout Rs 1,400 cr

Bond yields drop, rupee logs biggest single-day gain since July 27

The rise in bond prices came despite an increase in India's consumer price index inflation, which strengthens the case for the Reserve Bank of India to continue tightening monetary policy

Sensex rises 322 pts, Nifty tops 17,900 amid global rally; IT stocks shine

CLOSING BELL: Tech M, Titan, Axis Bank, Infosys, Ultratech Cement, Bajaj Finance, Tata Steel, Wipro, RIL, and TCS were the top large-cap winners

Sambasiva Rao beats Venkat Reddy to become new CPI Telangana secretary

Kunamneni Sambasiva Rao has been elected as Telangana state secretary of the Communist Party of India (CPI)

'Think of the worst': RBI Governor Das nudges banks to raise capital

Inflation has peaked, expect CPI at 5% in April-June, he says

CPI asks Bihar govt to use bulldozers against BJP leaders in state

The Communist Party of India on Friday asked the 'Mahagathbandhan' government in Bihar, which it is supporting from outside, to use bulldozers against leaders of the BJP in the state. CPI national secretary Atul Anjan also demanded that a "white paper" on the "ill-gotten" wealth of BJP leaders in the state be brought out to debunk the notion that "only other parties are corrupt". "Let (CM) Nitish Kumar and (deputy CM) Tejashwi Prasad Yadav instruct officials concerned to identify and raze structures belonging to BJP leaders which are found to be encroaching upon public land. Bulldozers should now be used against the party", he told reporters. "If Nitish and Tejashwi baulk, we will take it as a lack of moral courage (naitik saahas) on their part," said Anjan. The CPI leader said his party was still open to joining the cabinet in the state, unlike other Left parties - the CPI(ML) and CPI(M) which have ruled out such a possibility. "But we have received no offer so far. And we do no

At 10.1%, Britain's inflation hits 40-year high as food prices soar

Britain's rate of inflation has surged to a new 40-year high as the Consumer Prices Index (CPI) rose to 10.1 per cent on Wednesday, with increasing food costs the biggest driver of the latest hike. According to the Office for National Statistics (ONS), annual inflation for essential food items is now running at 12.7 per cent, up from 9.8 per cent in June, fuelled largely by price rises for basics such as bread, milk, cheese and eggs. The latest figures come amid soaring energy bills and a mounting cost-of-living crisis across the country. "A wide range of price rises drove inflation up again this month, said ONS chief economist Grant Fitzner. "Food prices rose notably, particularly bakery products, dairy, meat and vegetables, which was also reflected in higher takeaway prices. Price rises in other staple items, such as pet food, toilet rolls, toothbrushes and deodorants also pushed up inflation in July, he said. "Driven by higher demand, the price for package holidays rose, after