India’s wholesale price index (INWPI=ECI) fell 0.52 per cent in August from a year earlier, according to government data released on Thursday. Economists polled by Reuters had estimated the wholesale price index for August would fall 0.6 per cent. It fell 1.36 per cent in July. In August, fuel and power prices fell 6.03 per […]
Sugar output in Maharashtra, India’s top producing state, is likely to fall 14 per cent in the 2023-24 crop year to its lowest in four years due to lower cane yields following the driest August in more than a century, industry and government officials told Reuters on Wednesday. The reduced output could add to food […]
Amid rising gas prices, the US inflation rose to 3.7 per cent, recording an acceleration for the second-straight month, CNN reported on Wednesday. However, core inflation, which strips out volatile food and energy prices, continued to slow, CNN reported citing data from the Bureau of Labor Statistics. The Consumer Price Index, a closely watched inflation […]
Unilever has reported increased competition from smaller players in the Indian Fast Moving Consumer Goods (FMCG) sector following a cooling off of raw material prices. This has compelled its subsidiary, Hindustan Unilever, to shift its focus towards increasing volumes and implementing price reductions. Graeme Pitkethly, Unilever’s global chief financial officer, discussed the situation at the […]
Sugar prices in Pakistan have increased to Rs 185 per kg, with the country’s Economic Coordination Committee (ECC) asking relevant agencies to check for the hoarding and smuggling of sugar, Dawn reported. Dawn is a reputed Pakistan-based English daily. The rising wholesale rates have been providing an opportunity for various online mart and retail shop […]
Urban Indian consumer sentiment has rebounded by 3.1 percentage points in August 2023, as reported by the Refinitiv-Ipsos India Primary Consumer Sentiment (‘Consumer Confidence’) Index (PCSI). The monthly PCSI result, which is driven by the aggregation of the four weighted sub-indices, has surged for all 4 sub-indices: The PCSI Economic Expectations (“Expectations”) Sub-Index has moved […]
S&P Global Market Intelligence has revised the global accurate GDP growth forecast for 2023 to 2.5 per cent, primarily owing to upward revisions in the US forecast. Earlier, it had predicted global growth at 2.4 per cent. However, the 2024 global growth forecast remains unchanged at 2.4 per cent. Turning the focus to India, it […]
India is not considering imposing any restrictions on exports of non-basmati parboiled rice, Food Secretary Sanjeev Chopra said on Tuesday. Last month, India surprised buyers by imposing a ban on the export of widely consumed non-basmati white rice, following a ban on broken rice exports last year. “There is no proposal as of now to […]
Deficient Rainfall in several parts of India may cause pulse prices to surge, adding to the burden on the masses after rising vegetable costs. With the sowing season about to end, pulses sowing have declined further and is expected to be largely lower, according to a recent report. The report Monsoon and Sowing: Update released […]
The food industry is one of the worst hit when it comes to seasonal inflation. And when tomato prices go north, it goes missing from some of the most popular dishes. For decades, the humble tomato slice has been a staple garnish of the American style burgers. But as tomatoes became expensive and the prices […]
