{"id":85022,"date":"2024-09-20T21:54:55","date_gmt":"2024-09-20T21:54:55","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/indias-august-retail-inflation-stays-below-4-for-second-consecutive-month-the-express-tribune\/"},"modified":"2024-09-20T21:54:55","modified_gmt":"2024-09-20T21:54:55","slug":"indias-august-retail-inflation-stays-below-4-for-second-consecutive-month-the-express-tribune","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/indias-august-retail-inflation-stays-below-4-for-second-consecutive-month-the-express-tribune\/","title":{"rendered":"India’s August retail inflation stays below 4% for second consecutive month | The Express Tribune"},"content":{"rendered":"
\n
\nNEW DELHI:
\n<\/strong><\/p>\n

India’s August retail inflation remained below the central bank’s target of 4% for the second consecutive month, but vegetable prices continued to soar, dampening hopes of a dovish stance in the next monetary policy meeting.<\/p>\n

Annual retail inflation\u00a0was at 3.65% in August, higher than the revised 3.60% in July and economists’\u00a0forecast\u00a0of 3.5%.<\/p>\n

India’s key inflation gauge slipped below the Reserve Bank of India’s 4% target in July after a gap of nearly five years, largely due to the high-base effect.<\/p>\n

Prices of food, which account for nearly half of the retail inflation, rose 5.66% in August, compared to a 5.42% rise in the previous month.<\/p>\n

Vegetable prices rose 10.71% year-on-year in August against a 6.83% rise in the previous month. The inflation rate for cereals was 7.31% in August compared to 8.14% in the previous month, while that for pulses was 13.6% against 14.77% in July.<\/p>\n

“The slight uptick in August inflation was largely led by surprise on food prices,” Upasna Bhardwaj, an economist at Kotak Mahindra Bank said.<\/p>\n

Risks from spiking food inflation remain but the sudden plunge of global oil prices to a near a 3-year low could partly offset them.<\/p>\n

Above-normal rainfall due to the delayed withdrawal of the annual monsoon could\u00a0damage\u00a0India’s summer-sown crops like rice, cotton, soybean, corn and pulses, which are harvested from mid-September.<\/p>\n

This could boost food prices, but the rains may also result in higher soil moisture, benefiting the planting of winter-sown crops such as wheat, rapeseed and chickpea.<\/p>\n

The RBI, which kept its key\u00a0interest rate\u00a0unchanged for a ninth straight meeting in August, is widely expected to proceed cautiously with monetary policy easing.<\/p>\n

“We expect the RBI to maintain its current policy rate for now,” said Sujan Hajra, an economist at Anand Rathi Shares and Stock Brokers.<\/p>\n

The next monetary policy meeting is scheduled for October\u00a07-9.<\/p>\n

Core inflation, which strips out volatile food and energy prices, continued to hover around 3% and was estimated between 3.3% and 3.4% in August against 3.35% and 3.40% in July, according to three economists.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW DELHI: India’s August retail inflation remained below the central bank’s target of 4% for the second consecutive month, but vegetable prices continued to soar, dampening hopes of a dovish stance in the next monetary policy meeting. Annual retail inflation\u00a0was at 3.65% in August, higher than the revised 3.60% in July and economists’\u00a0forecast\u00a0of 3.5%. India’s […]<\/p>\n","protected":false},"author":2,"featured_media":85023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/i.tribune.com.pk\/media\/images\/WhatsApp-Image-2024-09-13-at-12-30-37-AM1726169466-0\/WhatsApp-Image-2024-09-13-at-12-30-37-AM1726169466-0.jpeg","fifu_image_alt":"","footnotes":""},"categories":[13],"tags":[],"class_list":["post-85022","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/85022","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/comments?post=85022"}],"version-history":[{"count":0,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/posts\/85022\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media\/85023"}],"wp:attachment":[{"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/media?parent=85022"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/categories?post=85022"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/pakistaninewspaperlist.com\/news\/wp-json\/wp\/v2\/tags?post=85022"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}