Page 2 - Inflation Rise

High inflation keeps Wall Street, global stocks muted to end brutal quarter

Wall Street and global stocks made up little ground on Friday, with government bond yields and the dollar holding near recent peaks, as higher-than-expected inflation continued to weigh on markets.

Sri Lanka's inflation zooms to 69.8% in Sept amid worst economic crisis

Sri Lanka's inflation has set a new record of 69.8 per cent in September, up from 64.3 per cent a month earlier, data from the state statistics office said on Friday, highlighting the challenge for the central bank as the island reels under its worst economic crisis in seven decades. The Colombo Consumer Price Index (CCPI), a leading indicator that gauges inflation in Sri Lanka's biggest city, rose 69.8 per cent from a year ago, from 64.3 per cent in August. The contribution from the food sector was 30.82 per cent in September, the statistics department said. Based on the CCPI, the moving average inflation in September was 33.4 per cent over 28 per cent recorded in August. Most basic food items other than rice and eggs had seen increases. The government recently hiked utility services rates of water and electricity alongside the high cost of food. Import restrictions imposed in the ongoing economic crisis have caused scarcities. The worsening foreign exchange crisis in April cau

Inflation forcing rural India to buy fewer essentials items: Report

A new report reveals people in villages are concerned about inflation and its impact on their financial condition

Nearly 50% homebuyers expect property prices to increase: Report

Services activity, hiring and stable unemployment rate helping consumer confidence, it says

Dutch king unveils aid in billions to households struggling with inflation

Dutch King Willem-Alexander unveiled plans Tuesday from the Dutch government to help households squeezed by rising costs, in his annual address to the nation. Inflation, energy prices and the war in Ukraine were just some of the "uncertainties" the country is facing, the monarch said in his annual speech, made every year on the third Tuesday in September. The speech is immediately followed by the release of the budget for the upcoming year. Boos could be heard from the crowd as the royal family just back from the state funeral of Queen Elizabeth II in London travelled from their palace in The Hague to the National Theater by horse-drawn carriage in a pomp-filled ceremony. "People are feeling increasingly uncertain about both the immediate and the longer-term future," the king said, speaking to a joint sitting of both houses of parliament. He pledged Euro 18 billion aid package to help low- and middle-income households. Notably missing from the budget was an energy price cap that

RBI may hike repo rates by 50 bps with inflation accelerating: Analysts

The Reserve Bank of India may raise interest rates by another 50 basis points this month after data showed inflation rose further above the central bank's tolerance limit in August, analysts said

Apple's new iPhones, watches are coming at a tough time for consumers

Apple will also likely keep some older or less advanced models at lower prices, and to date Apple's relatively affluent fan base has shown more willingness to keep spending despite high inflation

Gold pares gains as US dollar strengthens, rate-hike fear dominates mood

Spot gold was up 0.1% at $1,712.09 per ounce as of 1018 GMT. Prices hit a one-week high, rising nearly 1%, earlier in the session

Turkey's annual inflation passes 80% in August after interest rate cut

Turkey's annual inflation passed 80% in August, according to official data on Monday, further hitting consumers facing high energy, food and housing costs. The Turkish Statistical Institute said consumer prices rose by 80.21% from a year earlier, up 0.6 percentage points from the previous month. Independent experts say inflation is much higher than official statistics. The Inflation Research Group put the annual rate at 181%. The central bank unexpectedly cut interest rates to 13% in August despite rising prices, a plunging lira and an unbalanced current account. The central bank slashed interest rates by 5 percentage points between September and December last year. The rate then stayed at 14% until last month. Russia's invasion of Ukraine and the lira's decline have stoked inflation. The lira has plunged over 50% against the U.S. dollar since the central bank began cutting rates. Economists say rising inflation in Turkey is fuelled by President Recep Tayyip Erdogan's unorthodox .

Turkey sharply raises 2022 inflation forecast from 9.8% last year to 65%

Turkey sharply raised the country's inflation forecast for 2022 to 65 per cent, up from 9.8 per cent predicted one year ago, according to a government program published in the Official Gazette

Inflation in Italy surges by 8.4% to reach a 37-year high in August

Prices in Italy were 8.4 per cent higher in August than they were a year earlier, a level that had not been recorded since December 1985, the country's National Institute of Statistics reported

Commercial vehicle volumes to stay resilient as recovery takes hold in FY23

Margin pressures may continue on competitive pressures, input cost inflation

State of the Indian economy: Unequal, uneven distribution of wealth

The income gap between states is growing and the pain of inflation is worse for those falling behind

Crude oil prices fall by over $3 on inflation worries, Iraq exports

Oil prices fell Tuesday on fears that an inflation-induced weakening of global economies would soften fuel demand, and as Iraqi crude exports have been unaffected by clashes

Brent crude stable as market juggles inflation woes with supply fears

Brent crude futures for October settlement fell 9 cents to $105 a barrel by 0841 GMT, after climbing 4.1% on Monday, the biggest increase in more than a month

S&P raises India inflation forecast by 50 basis points to 6.8% for FY23

India is facing the external pressures of higher commodity prices, US dollar dominance, and tightening financial conditions from a position of relative strength: S&P

Warehousing, logistics space leasing down 9% across 7 cities in Jan-June

High inflation and global headwinds slowed down demand for warehousing and logistics spaces during January-June as leasing dipped 9 per cent annually across top seven cities, a report said. The US-based property consultant Vestian said in a report that the total absorption across the seven key cities -- Mumbai, Delhi-NCR, Bengaluru, Chennai, Hyderabad, Pune and Kolkata -- was recorded at 13.16 million square feet. "This depicted a decline of 9 per cent over the quantum of warehousing space leased in H1 2021," it pointed out. The consultant attributed the slowdown in the market to "increasing inflation and global headwinds from geopolitical conditions impacting the supply chain ecosystem and business environment." Delhi-NCR, Pune and Mumbai accounted for 56 per cent share of the total absorption during the year. The Delhi-NCR market saw leasing of 2.8 million square feet, followed by Pune 2.45 million square feet, Mumbai 2.17 million square feet, Bengaluru 1.8 million square feet,

Inflation to ease to 4% in two years after peaking, says RBI Governor

The RBI has raised policy repurchase rate by a total of 140 basis points since May, including back-to-back half point increases in June and August, to cool down inflation within its mandate

Will continue fight against unemployment, inflation: BJP MP Varun Gandhi

BJP MP Varun Gandhi on Sunday said he will continue his fight against unemployment, corruption and inflation until they cease to exist. In an apparent dig at his own party, Gandhi said he is working for an India where children and youth get respect, and where nobody is compelled to bow his head for help. "Until employment ceases to exist in this country and your children don't get jobs, my 'sangarsh' (fight) will continue. We will also continue our fight against corruption," he said at a programme here. "We will not allow the sacrifice of our ancestors go in vain. Time has come for the people to raise their voice against basic problems, injustice and corruption," he added. During his Pilibhit tour, Gandhi inaugurated an indoor sports hall constructed at a cost of Rs 8 crore and also interacted with members of the urban local body.

UK inflation hits double digits in July for the first time in 40 years

The Consumer Prices Index rose 10.1% in July in the UK from a year earlier after a 9.4% gain the month before