Menu
BW CFO World
Community for Finance Professionals, Consultants and allied businesses
  • Home
  • News
  • Videos
  • Articles
    • Credit & Capital
    • Economic Trends
    • Financial Compliance
    • Financial Leadership
    • Financial Management
    • Financial Reporting
    • Financial Strategy
    • Risk Management
    • Taxation
  • Featured
  • Nominate for Awards
Close Menu
Rbi cfo
September 12, 2022

Retail Inflation Rises To 7 Percent

Urvi Srivastava Financial Reporting inflation, RBI, REPO RATE, retail

The inflation print in July had come in at 6.71 per cent

Retail inflation in India, measured by the Consumer Price Index (CPI), in August rose to 7 per cent after falling for three consecutive months, data released by the Ministry of Statistics and Programme Implementation on Monday showed. The inflation print for July had come in at 6.71 per cent. This is above RBI’s 2 to 6 percent tolerance band in each month this year. This is despite significant decline in crude oil prices, which had a small impact on inflation.

However, essential crops like wheat, rice, pulses saw a significant price increase due to unfavorable weather conditions and erratic monsoon patterns. This becomes crucial as they constitute nearly half of the food consumer price index (CPI) basket. As per data, inflation in food basket was 7.62 per cent in August 2022, significantly up from 6.69 per cent in July 2022 and 3.11 per cent in August 2021. The high base effect makes inflation numbers look larger.

Erratic monsoon patterns across the country suggest more crop damages, keeping food prices elevated in the coming months, with negative seasonality kicking in for September-November and weighing on price pressures. The RBI raised its repo rate by 50 basis points (bps) in August 2022 to 5.40 per cent, taking the total rise since May this year to 140 bps. Its next policy decision is due on September 30, with expectations of a rise of fewer than 50 bps. These numbers have a cascading impact on inflation. These numbers may push the central bank into fire fighting mode like its contemporary bank in the weat.

Avatar

Urvi Shrivastav

→ Urvi Shrivastav

Women Are Real Leaders Of India’s Dairy Sector: PM Modi “India a goldmine for investors”: Gadkari

Related Posts

Sridhar Kalyanasundaram

Financial Reporting

‘Unethical Conduct’:  Independent  Director  Of  Dhanlaxmi  Bank  Quits  Board

steel

Financial Reporting

Tata Steel, UK Govt Sign £1.25 Bn Investment Deal

Financial Reporting

SBI General Insurance appoints Jitendra Attra as its new CFO

Selected Stories

  • Aparna IyerWipro Appoints Aparna Iyer As New CFO

    Read more

  • 1597147392_Q6REQN_what_to_expect_on_property_settlement_dayHousehold Savings Reflect Changing Consumer Preferences, Not Economic Distress: FM

    Read more

  • houseTax Incentives, Flexible Payment Plans Main Factors For Potential Homebuyers: Survey

    Read more

  • ADBADB slashes India’s GDP forecast to 6.3% for FY23

    Read more

  • GSTGSTN Enables Geocoding Functionality For All States, UTs

    Read more

Movements

  • Aparna IyerWipro Appoints Aparna Iyer As New CFO
  • kate-thompson-interim-cfo.jpg.img.750.mediumBP Appoints Kate Thomson As Interim CFO
  • Screenshot 2023-03-28 180755Infobip appoints Richard Kraska as Chief Financial Officer
  • zUah2lDb_400x400Deloitte India Named Romal Shetty As CEO For Four-Year Term
  • cfo imageVishnuhari Pareek Named As Head Of Finance At Arkam Ventures

Categories

  • Accounting
  • CFO Stance
  • Credit & Capital
  • Economic Trends
  • Economy
  • Featured
  • Financial Compliance
  • Financial Leadership
  • Financial Management
  • Financial Reporting
  • Financial Strategy
  • Financial Technologies
  • Global News
  • Interview
  • Movements
  • Risk Management
  • Taxation

Recent Comments

    Back To Top
    BW CFO World
    • Home
    • News
    • Videos
    • Articles
      • Credit & Capital
      • Economic Trends
      • Financial Compliance
      • Financial Leadership
      • Financial Management
      • Financial Reporting
      • Financial Strategy
      • Risk Management
      • Taxation
    • Featured
    • Nominate for Awards
    © Copyright BW BUSINESSWORLD 2018. All Rights Reserved.