Food prices for consumers last month rose 12.16 per cent from a year earlier, slower than November's 14.72 per cent rise.
The Seventh Pay Commission had decided to choose the CPI-IW as the index for adjusting inflation for central government employees.
Tackling inflation will be a priority, the finance minister and RBI governor said on Wednesday, after high prices contributed to painful losses for the ruling Congress Party in state elections.
Inflation moderates, but government can and must do more.
RBI might retain rates at current levels, upside risks to inflation rise.
With pricing power of producers unlikely to strengthen and commodities ex-crude oil likely to remain sluggish in the immediate term, the core-WPI inflation may remain sub-zero in the rest of this calendar year.
IIP, inflation numbers bring cheer, but their sustainability is the key.
Bankers need to take a call on whether they will allow technology firms to run banks or banks themselves will turn into tech firms, says Tamal Bandyopadhyay.
The 30-share Sensex ended 209 points down at 20,282 after hitting an intra-day low of 20,262 and the 50-share Nifty ended 61 points down at 6,018 after touching an intra-day low of 6,012.
The broader markets too ended weak- BSE Midcap and Smallcap indices fell by nearly 1% each.
A panel headed by Reserve Bank of India deputy governor Urjit Patel recommended in January moving to an inflation target.
Milk and its products too were less expensive with inflation print of 4.21 per cent, cereals and products at 2.10 per cent, meat & fish at 3.31 per cent while for eggs the prices grew at a slower pace of 8.51 per cent.
The central bank is widely expected to increase the repo rate by 25 basis points on Tuesday to 7.75 per cent to fight inflation even as it continues to unwind its rupee defense steps, a Reuters poll showed.
Since March 2020, WPI food inflation rate continued to fall but the CPI-food inflation rose, signaling a breakdown in supply chain from the mandis to the final household.
According to data released on Thursday, Wholesale Price Index-based inflation rose to seven per cent in October from 6.46 per cent in September.
Consumer durables shrank year on year, which could suggest to observers that spending confidence is yet to return to the economy.
China's consumer price inflation will probably pick up in the coming months as resource prices rise and consumption gathers steam, a government think-tank said in a report recently.
Markets end flat ahead as investors turned cautious and booked profits ahead of Jan IIP, Feb CPI data.
Items such as cereals and products, meat and fish, oils and fats became cheaper
RBI may go for a 25-basis point cut at its February policy meet.
Markets ended lower as investors turned cautious ahead of the November consumer price inflation data due tomorrow.
NTPC, Hero MotoCorp and Reliance Industries down 2% each among the top losers
The rate of price rise in the vegetable segment almost doubled to 7.47 per cent as against 3.92 per cent in September.
Post workers are collecting data that determines the level of India's consumer price index, which is likely to become RBI's most important tool for setting monetary policy.
Markets surged nearly 2% led by IT majors on better-than-expected Q3 earnings from Infosys and hopes that RBI would continue to maintain status quo on key policy rates.
The restrictions imposed in March led to a sharp slump in demand from bulk consumers like hotels, restaurants, and roadside tea stalls, as they were forced to shut down. Sales of major milk products such as ice-cream, butter milk, and cheese, which usually spike during summer, also dropped.
The milk procurement prices have been continuously on the rise for the last 3-4 months due to increase in feed and fodder cost by 15-20 per cent and labour cost etc.
Consumer price inflation touched a nine-month high of 11.24 per cent last month.
Banks and Capital Goods scrips among the top losers in noon deals.
The Reserve Bank of India, which mainly factors in retail inflation to decide its monetary policy, has been tasked by the government to ensure the rate of price rise remains around 4 per cent.
Crisil Research expects retail inflation to rise 60 basis points to 4 per cent this fiscal from 3.4 per cent in 2018-19.
A pick-up in farmer income could have a cascading impact on the rural economy, though agriculture is becoming a smaller part of India's overall rural incomes.
It is also likely to assume a deflator of around 4 per cent. That could take the nominal GDP outlook for FY21 to around 10 per cent. It is this nominal GDP forecast on the basis of which the finance ministry is calculating key Budget targets like the fiscal deficit as a percentage of GDP and tax revenue growth for the coming year.
Costlier vegetables and fruits, such as onions and tomatoes, drove retail inflation to 10.09 per cent in October, entering double digits after seven months.
Retail inflation during the first month of the current fiscal stood at 2.9 per cent, down from 4.6 per cent a year ago. Food inflation based on Consumer Food Price Index declined to a low of 0.1 per cent during the financial year 2018-19, the survey said.
Delivering a public speech hours after the RBI launched a rescue act for Yes Bank on March 6, Governor Shaktikanta Das reiterated the RBI's affirmation to do whatever was needed to combat the coronavirus impact. On that day, India had only one confirmed COVID-19 infection, the World Health Organisation was five days off from declaring it as a pandemic and the financially debilitating lockdowns were not even on the horizon. Das' promise on efforts to mitigate COVID-19 impact appeared as a footnote in news reports from the event.
The Value Added Tax system has no adverse impact on consumer prices, and revenue earnings under the new regime have shot up by 15.3 per cent during the first quarter of the current fiscal, Finance Minister P Chidambaram told the Rajya Sabha on Tuesda
Fruits, vegetables and eggs continued to witness deflationary trend during January this year, with their prices declining 4.18 per cent, 13.32 per cent and 2.44 per cent, respectively.
Speaking at an Assocham event, Modi said the recent cut in corporate tax has brought rates to all-time low for businesses, adding that labour force should also be taken care of.
RBI is scheduled to announce the monetary policy for the current financial year on May 3 during which it will take a call on interest rates keeping in view the inflation and other macro-economic parameters like growth rate, industrial production etc.
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