The numbers released by the National Statistical Office (NSO) on August 14 show that July saw the highest monthly inflation print in 15 months, since April 2022. What makes the latest inflation number especially shocking-a Bloomberg forecast of economists underestimated it by a full percentage point - is that the 2.57 percentage point jump in the headline inflation print between June and July is the highest monthly jump in the current CPI series.
The latest inflation numbers are bad news for both fiscal and monetary arms of policymaking.
The former will be increasingly worried about the squeeze inflation, especially in food prices, is putting on household budgets.
More than half of India's households spend at least half their continued on budget on food. Monetary policy will have to pivot towards a hawkish stance even if it is detrimental to growth. This will be especially bad for households who will have to suffer form a further increase in mortgage payments along with higher prices for groceries. interest rate hikes cannot do much to bring down food prices. With less than a year to go for elections, neither of these are politically very palatable options.
Bu hikaye Hindustan Times dergisinin August 15, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Hindustan Times dergisinin August 15, 2023 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
He was a dictator: Ayushmann recalls getting thrashed by father as a child
Actor Ayushmann Khurrana has revealed that his late father, astrologer P Khurana, was very strict and would often thrash him with 'chappals' and 'belts,. Khurrana, renowned for his roles in films such as Vicky Donor (2012) and Article 15 (2019), went as far as describing his father as a \"dictator\".
Aamir Khan: My daughter Ira and I go to joint therapy
Actor Aamir Khan, 59, has shared his ongoing efforts to rebuild his relationship with his daughter, Ira Khan, 27, in an unexpected yet heartfelt revelation.
DILJIT VS TELANGANA: A WAR OF WORDS
Diljit Dosanjh takes on government's dictate on his songs and says declare the state dry, and he will tweak his songs
Sunny Kaushal: It's time to allow men to be vulnerable
For actor Sunny Kaushal, the definition of masculinity is ever-evolving. \"It depends on how you feel and how you want to take it forward in your own way,\" he muses.
England thrash Ireland; Rabiot rises for France
England blew away l O-man Republic of Ireland 5-0 to wrap up promotion to the Nations League top flight as four players netted their first international goals on Sunday, while Adrien Rabiot scored twice as France beat Italy.
With Malaysia draw, India end year without win
The 1-1 draw against Malaysia, Rahul Bheke cancelling Paulo Josue's strike, meant India would end 2024 without a win from 11 matches, a first since 2014.
Sinner, a shift in power centre
The Italian world No.l was the flag-bearer in a men's tennis season that saw the new generation assert itself
Udita driving India's fine run in Rajgir
Many were surprised when Udita Duhan ended as the costliest buy at 32 lakh in the Hockey India League auction last month, proving to be more expensive than FIH Player of the Year and Paris Olympics top-scorer Yibbi Jansen.
After Paris low, Satwik-Chirag to return at the China Masters
India's finest men's badminton doubles pair Satwiksairaj Rankireddy and Chirag Shetty will return to action after a gap of three-and-a-half months, at this week's $1.15 million China Masters at Shenzhen.
Form across formats will dictate franchise interest at IPL auction
Recency bias has always influenced the bidding no matter how scientific and data driven the process becomes
