This price spike comes in the wake of December’s Consumer Price Index (CPI) release, which showed mixed signals regarding inflation.
The Reuters poll of 50 economists conducted June 5-10 predicted consumer price inflation (CPI) is expected to have picked up to 4.89% last month from April's 4.83%.
The euro is up 0.8% on the dollar this week, has broken above resistance around $1.0855 and traded as high as $1.0895 in the wake of slowing U.S. inflation
Several ETFs tied to the spot price of bitcoin began trading in the U.S. on Thursday.
The headline Consumer Price Index rose 0.3% last month, for an annual gain of 3.4%. That was expected to be 0.2% and 3.2%, respectively.
The dollar has stumbled as recent data has showed a slowing of the economy and inflation pressures, including the consumer price index (CPI) data, but not enough to increase fears a sharp recession is looming, leading markets to price out any additional Fed rate hikes.
“Retail inflation is just about near the RBI target of four percent while manufacturing is clearly showing an uptick as per the latest data. The Indian economy is on a steady move even in the midst of global challenges,” said ASSOCHAM Secretary General Deepak Sood.
The dollar fell sharply on Thursday after U.S. consumer prices rose less than expected last month and data pointed to underlying inflation having peaked, opening the way for the Federal Reserve to slow its aggressive interest rate hikes.
Rupee slides beyond 78 against the US Dollar for the first time. 10-year bond yields jump to over 3-year highs. What to expect from the CPI data slated for later today? Moneycontrol's Karunya Rao and Ravi Krishnan decode all this and more.
Moneycontrol's Sakshi Batra talks to Deputy Executive Editor Gaurav Choudhury to find out how November CPI numbers stack up.
Food prices grew 7.89 percent in October, against 5.11 percent in September. Vegetables inflation for October stood at 26 percent against 15.4 percent in September
The professional forecasters' survey puts Consumer Price Inflation (CPI) at 4.4 percent, while RBI forecasts 3.9 percent for Q3Fy20.
After an upward swing in May inflation, RBI Deputy Governor S S Mundra on June 13 said the central bank will continue to monitor data and slash rates only if there is a decline in the number
According to Anand Rathi Financial Services, if the lower inflation projections by the RBI materialise (our estimates also show inflation softening), the RBI might in end 2015 pare the rate by a further 25bps, "Monetary Policy - Rates likely to persist at current levels in 2015", says the report.
Citi is maintaining its view of an extended pause on policy rates. They believe that IIP is likely to see improving trends and that headline CPI could remain elevated in the near term.
Gold, silver futures trim losses after U.S. jobless claims, CPI data
HSBC`s flash estimate of the China purchasing managers` index (PMI) is likely to feature high on the list of data to be watched closely in Asia this week.
India's consumer inflation likely eased for the third straight month in May but remained high enough to be a headache for the RBI, which is under pressure to cut rates again next week after headline wholesale inflation cooled.
Ajay Shah, Senior Fellow, NIPFP does not seem excited about what is happening in inflation. He believes that India has a long tradition of falling on inflation. “People are factoring in double digit inflation into their lives and it is not going to be easy to purge this inflation,†he said.
CRISIL Research, India’s largest independent and integrated research house, has released an alternative measure of core inflation - CRISIL Core Inflation Indicator (CCII). The research firm believes that, CCII is a better indicator of underlying demand pressure on prices.
India's GDP growth in the first half of the current fiscal year to end-March is expected to be revised downwards from 8.9% provisional estimate, Chief Statistician of India TCA Anant said on Monday.