ASIA: According to the World Bank, India's economic growth is expected to slow down further to 6.3% in the financial year FY 2023/24. This is a downward revision of 0.3 percentage points from the previous estimate of 6.6%. The main reason for the slowdown is attributed to constrained private consumption caused by high inflation.
ASIA: Consumer prices in China increased at their slowest pace in two years, indicating deflationary pressure and weakness in domestic demand. The consumer price index rose by only 0.1% in April compared to the previous year, the lowest rate of inflation since February 2021. The producer price index, which measures factory-gate prices, experienced a significant
ASIA: India's economic growth in the March quarter reached 6.1%, according to government data. This growth was driven by increased government and private capital spending, although private consumption remained sluggish. India continues to be one of the fastest growing emerging economies, particularly as China's recovery falters. Despite the risks posed by a global slowdown, the
ASIA: Core consumer inflation in Tokyo, Japan's capital, slowed down in May. However, an important inflation index that excludes the impact of fuel reached a four-decade high, indicating increasing price pressure. This could potentially maintain expectations of a withdrawal from the current loose monetary policy. The Tokyo core consumer price index, which excludes volatile