However, if monsoon progress in August and is geographically more even, Nomura believes Kharif sowing could still pick up going ahead, which in turn could keep food prices and inflation under check.
Traders have attributed this spike to higher exports, rising transportation and storage costs, and a widening gap between demand and supply
Rupee depreciation has impacted the current account deficit and fuelled inflationary pressures but at the same time it has made Indian exports more competitive, according to experts.
According to the July Bulletin article, the current level of reserves were equivalent to 9.5 months of imports projected for 2022-23
The latest consumer inflation (CPI) print in the US for June came in at 9.1 per cent - the highest reading since 1981, and surpassed most analysts' expectations, who had pegged this at 8.8 per cent
Review released by ministry also said that global headwinds would continue to pose downside risk to growth as crude oil and edible oils, remain major imported components
Impact on CPI inflation to come later, rupee depreciation to negate some of this impact
The World Bank last month cut India's economic growth forecast for the current fiscal to 7.5 per cent owing to rising inflation, supply chain disruptions and geopolitical tensions
The Reserve Bank of India (RBI) hiked the benchmark interest rate, or repo rate, in May and then in June to control demand and liquidity in the economy
The government on Tuesday will release the key data on June retail inflation which will be factored by the Reserve Bank in its next bi-monthly monetary policy to be announced in early August.
One of the later entrants in the current round of global monetary policy tightening, the Reserve Bank of India raised its repo rate by a total of 90 basis points in May and June
According to MPC's own projections, the inflation rate may not come down below 6% on average before the fourth quarter of the current financial year
Amid increases in the prices of power production in the national capital, Delhi Chief Minister Arvind Kejriwal on Monday said that the public will not be affected by the inflation in the city.
The July 4-8 Reuters poll of 42 economists showed inflation as measured by the consumer price index (CPI) was steady at an annual 7.03% in June, versus 7.04% in May
Domestic equity market this week will be influenced by macro data announcements, including inflation number for June, first quarter earnings from companies, global trends and foreign funds movement
While the govt has introduced windfall tax and export curbs to arrest runaway prices, a lot depends on how the monsoon pans out this season
The steps came after the RBI's foreign exchange reserves fell by more than $40 billion over the past nine months, largely due to its intervention in the currency market to curb rupee losses
Inflation as measured by the CPI index stood at 7.04 in May 2022, higher than the Reserve Bank of India's (RBI's) comfort zone of 2 - 6 per cent
Dabur's food and beverages vertical saw strong double-digit growth in the quarter on the back of improving out-of-home consumption, innovation, and intense summer season
Demand in the FMCG industry remained soft in the June quarter, with major players Dabur, Marico and Godrej Consumer Products Ltd (GCPL) stating that consumers have titrated consumption