High food prices keep Indias retail inflation above 6% in August

The latest data shows consumer inflation has remained above the central bank's medium term range of 4-6 per cent for a fifth month in a row.

Almost 50 economists had expected consumer prices to have risen 6.85 per cent in August from a year ago, according to a poll conducted by news agency Reuters.

The retail inflation has now remained above the upper band set by the Reserve Bank of India of 6 per cent for nine consecutive months, though not successively for three financial quarters yet.

Data separately released by the industry department earlier in the day showed India's wholesale price inflation turned positive in August after a gap of four months when it remained in deflationary territory, signalling producers are slowly regaining their pricing power after the supply and demand shock triggered by the coronavirus pandemic.

More news: Dallas Cowboys lose 3 starters in narrow loss to LA Rams

The wholesale price index (WPI) inflation stood at 0.16% in August against a contraction of 0.58% in July as inflation for the manufactured items accelerated to 1.27% from 0.51% during the same period.

The RBI's Monetary Policy Committee, headed by Governor Shaktikanta Das, adjusts key rates based on changes in inflation trends. "With favourable monsoon and prospect of good kharif and rabi crops, India Ratings expects that food inflation will ease from here on", Sunil Kumar Sinha, principal economist at the agency said in a note. The vegetables segment also witnessed a rise of 11.41 per cent. Apart from meat and fish segment, the pulses and products segment saw a rise of 14.44 per cent, while that of oils and fats rose 12.45 per cent and spices prices gained 12.34 per cent.

The composite food index rose by 16 per cent in August, compared to 15.48 per cent in July, according to the statistics office.

Like this



16 September 2020
Apple looks to widen the gap with all new Apple Watch models
The primary focus was on the Apple Watch, as evidenced by the "Time Flies" catchphrase that was introduced with the invitations. Premium - All of the same services, but also includes News+ and Fitness+ for $29.95 per month (in select regions).

16 September 2020
Get Ready to Upgrade: iOS 14 Rolls Out Sept. 16
The all-new operating system will run on the iPhone 6S , iPhone 6S Plus , the original iPhone SE , and everything released since. Third-party browser and mail apps can be set as default for the first time, and Apple added new AirPods capabilities.

16 September 2020
Whistleblower Revealed ‘Victims of Persecution’ Being Forcibly Sterilized at ICE Facility
She was supposed to get her left ovary removed because it had a cyst on the left ovary; he took out the right one. She had to go back to take out the left and she wound up with a total hysterectomy", Wooten said.

16 September 2020
Google's next smartphones and smart speakers in the starting blocks
Thus it is widely expected that these high-end device are destined to be stars of the Launch Night In event, for smartphone fans. An invite states that Google will use this event to unveil a new Chromecast, new Pixel phones, and a new smart speaker.

16 September 2020
Apple Watch Series 6 is first to integrate U1 Ultra Wideband chip
Apple always stays tight-lipped about its plans but we're expecting to see four new phones being revealed sometime soon. With Family Setup , parents can set controls, like which contacts the child can communicate with over messages.

16 September 2020
Wolves snapping at heels of the elite, Football News & Top Stories
It meant Wolves are the first Premier League side to score two goals inside six minutes on the opening day of the season. Jimenez, who played in 55 of last season's games, never stopped running, with Nuno's innovative formation bearing fruit.

16 September 2020
Sports Games Dominate August As Madden Makes Run Up Year's Top 10
The Legend of Zelda: Breath of the Wild ranked among the month's seven best-selling Switch games for the 42nd time. Switch unit sales were the highest for an individual platform in May since the Nintendo DS did so in May 2009.

16 September 2020
Local COVID-19 numbers steady as provincial cases rise
One death is also being reported. "COVID-19 does not like to be in a steady state", he said. David Williams told CP24 after announcing Tuesday's number live on the air.

16 September 2020
'Ghostrunner' coming to PC, PS4 and Xbox One in October
Ghostrunner is coming to Xbox One, PlayStation 4, and PC on 27th October for $29.99/£24.99/€29.99 with 10% off when pre-ordering. Featuring NVIDIA RTX Ray Tracing, Ghostrunner offers immersive and impressive visuals usually reserved for AAA studios.

16 September 2020
Kim K defends her latest maternity shapewear launch due to backlash
Kim continued, clarifying the objective of the collection, saying that "The belly part doesn't slim your belly". It's also worth noting that other shapewear lines like Spanx and Shapellx offer their own maternity lines.