Monetary policy

July 12, 2024 9:17 PM

India’s retail inflation surges past 5% in June, triggered by food prices

India's retail inflation rate has broken its recent trend of moderation, climbing above 5% in June 2024, primarily due to rising food prices. This uptick poses fresh challenges for policymakers who have been working to manage inflationary pressures. According to official data released Friday, the Consumer Price Index (CPI)-based inflation rate for June stood at 5.08% year-on-year. The inflation rates for rural and urban areas were recorded at 5.66% and 4.39% respectively. The surge in food pri...

S&P upgrades India’s sovereign rating outlook to ‘positive’

S&P Global Ratings has raised the country's sovereign rating outlook to 'positive' from 'stable' while retaining the rating at 'BBB-'. The rating agency cited India's robust economic expansion as having a constructive impact on its credit metrics. "We expect sound economic fundamentals to underpin the growth momentum over the next two to three years," S&P said in its assessment on Wednesday. The agency added that regardless of the outcome of the ongoing national elections, it expects br...