The Reserve Bank of India (RBI) has stated that the recent surge in food prices and higher inflation in June aligns with the ongoing fight against inflation. The rise in food prices, particularly due to the onset of the monsoon, contributed to an inflation rate of 4.81% in June. The RBI s bulletin also highlighted that consumption expenditure remains hampered by high price pressures, leading to lower spending on discretionary items. However, consumers are optimistic that the festival season and decreasing food inflation will revive spending in the coming months.
awhile. great to have you. stocks have been rejoicing. more on that in a second. now on something that is happening that would make you wonder why are they rejoicing? edward lawrence with more. we end a week with more bad economic data for this administration. now, the fed s favorite inflation indicator, if you see inflation, is now at the highest level since january of 1982. in fact, the hit song at that time was let s get physical by olivia newton john. pc inflation year over year after 6.86. core, which is without food and energy costs 4.8% year over year. when you look at this month compared to last month, the increase at 1%. that s the highest increase since march of 1980. now it s a lot of numbers but you get the idea here.