Retail inflation slips to multi-year low of 2.1% in June
'There is a decline of 72 basis points in headline inflation of June 2025 in comparison to May 2025. It is the lowest year-on-year inflation after January 2019,' it said. The previous low of 1.97 per cent was recorded in January 2019. The NSO said the significant decline in headline inflation and food inflation in June 2025 is mainly attributed to favourable base effect and decline in inflation of vegetables, pulses and products, meat and fish, cereals and products, sugar and confectionery, milk and products and spices.
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Time of India
32 minutes ago
- Time of India
Prada team visits artisans to explore collaboration on Kolhapuri chappals
1 2 3 4 5 6 Kolhapur: Unique handcrafted Kolhapuri chappals that whisper quiet elegance, epitomise sustainable artistry, all the while adapting beautifully to seasonal weather, captivated a team from luxury fashion brand Prada on Tuesday. A team of four technical experts from the Italy-based global fashion brand Prada was in Kolhapur on Tuesday to interact with artisans who produce the iconic Kolhapuri chappals and took finished footwear as well as various completed and unfinished parts with them. After exhibiting the footwear at its Milan show without naming the Kolhapuri chappal, Prada chose to engage with the artisans responsible for making the footwear. In a recent meeting with the Maharashtra Chamber of Commerce, Industry and Agriculture (MACCIA), the fashion giant expressed a desire to collaborate with local artisans and supply chains and to conduct business in the future. Consequently, Prada sent a team led by Paolo Tiveron, the director of the men's technical and production department (footwear division). The team included Daniele Contu, pattern-making manager of the footwear division, and two external consultants, Andrea Pollastrelli and Roberto Pollastrelli. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Buy Resmed AirSense 11 with flat 20% off ResMed Buy Now Undo MACCIA president Lalit Gandhi assisted the team in visiting Subhash Nagar, the centre of Kolhapuri chappal manufacturing. Bhupal Shete, a manufacturer and seller of Kolhapuri chappals who is also the director of the Kolhapuri chappal cluster, was with the Prada team during the visit. "In the past, through govt intiatives, we have showcased the footwear in countries such as Egypt, Singapore and a few others. It helped the artisans and sellers as the demand grew. We fought to get a Geographical Indication tag for Kolhapuri chappals. We told the Prada team that these chappals can help feet remain healthy as these provide warmth when its cold, and stay cool during the summers. With the help of Prada, global markets will open up for Kolhapuri chappals and the art will be preserved." Shubham Satpute, a fourth-generation chappal maker, told TOI, "The team members asked us how the stripes are made, how the stitches are done, and how many chappals we can make every month. They gathered information on the chappal-making process. I told them about the uniqueness and the things which only artisans from Kolhapur can accomplish, such as design, hand stitches, leather braiding, and treatment of leather. We gave one antique pair of Kolhapuri chappals to the Prada team. They also took various samples of braids, finished, and other unfinished parts." TOI has written to Prada seeking details of the visit, and a reply is awaited. Gandhi said this is the first time representatives of the company, with a turnover of Rs 50,000 crore, had come to Subhash Nagar. "The Prada controversy has helped take Kolhapuri chappal to the global stage. Now, the next team of Prada, which is associated with the business aspect of the trade, will come to Kolhapur in the first week of Aug," Gandhi said. The Prada team stayed in Kolhapur and is likely to visit Chappal Line, the famous lane of Kolhapuri chappal shops near the Mahalaxmi temple on Wednesday morning before leaving for Milan, said Gandhi.
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Business Standard
34 minutes ago
- Business Standard
US inflation picks up in June as early tariff effects start to show
US consumer prices increased by the most in five months in June amid higher costs for some goods, suggesting tariffs were starting to have an impact on inflation and potentially keeping the Federal Reserve on the sidelines until September. Softening demand as consumers hunker down, however, is limiting price increases for services like airline fares and hotel and motel rooms, keeping underlying inflation muted for now. That trend, if sustained, could ease concerns of a broad-based rise in price pressures from tariffs. Nonetheless, economists generally expect the tariff-induced rise in inflation to become more evident in the July and August CPI reports, arguing that businesses were still selling merchandise accumulated before President Donald Trump announced sweeping import duties in April. They also noted that when Trump slapped tariffs on washing machines in 2018, it took several months for the duties to show up in the inflation data. Trump last week announced higher duties would come into effect on August 1 for imports from a range of countries, including Mexico, Japan, Canada and Brazil, and the European Union. "Inflation has begun to show the first signs of tariff pass-through," said Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management. "While services inflation continues to moderate, the acceleration in tariff-exposed goods in June is likely the first of greater price pressures to come. The Fed will want to hold steady as it awaits more data." The CPI increased 0.3per cent last month after edging up 0.1per cent in May, the Labor Department's Bureau of Labor Statistics said on Tuesday. That gain was the largest since January, and also reflected higher rental costs. Gasoline prices rebounded 1.0per cent after four straight monthly declines. Food prices rose 0.3per cent, matching the increase in May. Grocery store prices also advanced 0.3per cent, lifted by a 1.4per cent increase in the costs of nonalcoholic beverages and 2.2per cent jump in coffee prices, likely because of higher import duties. Fruits and vegetables cost 0.9per cent more while beef prices jumped 2.0per cent. But eggs were 7.4per cent cheaper as an avian flu outbreak abated. The cost of food consumed away from home rose 0.4per cent. In the 12 months through June, the CPI advanced 2.7per cent after rising 2.4per cent in May. Economists polled by Reuters had forecast the CPI would climb 0.3per cent and rise 2.6per cent on a year-over-year basis. The US central bank tracks Personal Consumption Expenditures (PCE) Price Index data for its 2per cent target. The Fed is expected to leave its benchmark overnight interest rate in the 4.25per cent-4.50per cent range at a policy meeting later this month. Minutes of the central bank's June 17-18 meeting, which were published last week, showed only "a couple" of officials said they felt rates could fall as soon as the July 29-30 meeting. CPI inflation readings came in on the low side in February through May, leading to demands by Trump for the Fed to lower borrowing costs. Trump persisted on Tuesday, writing on his Truth Social media platform, "Consumer Prices LOW. Bring down the Fed Rate, NOW!!" Stocks on Wall Street were mixed. The dollar rose against a basket of currencies, hitting a 15-week high versus the Japanese yen. US Treasury yields rose. TAME UNDERLYING INFLATION Excluding the volatile food and energy components, the CPI rose 0.2per cent in June. The so-called core CPI edged up 0.1per cent in the prior month. Despite the moderate gain, there were some solid increases in tariff-sensitive goods. Prices of household furnishings and supplies shot up 1.0per cent, the largest advance since January 2022, after climbing 0.3per cent in May. There was a record 4.2per cent jump in the prices of window and floor coverings and other linens. Prices for appliances surged 1.9per cent, the biggest rise since August 2020, while the cost of apparel rebounded 0.4per cent. Sporting goods prices accelerated 1.4per cent while toys vaulted 1.8per cent, the most since April 2021. But those rises were partially offset by a 0.7per cent decline in the cost of used cars and trucks. New motor vehicle prices fell 0.3per cent for a second straight month. Core goods prices rose 0.2per cent after being unchanged in May. Owners' equivalent rent of primary residence rose 0.3per cent, but the cost of hotel and motel rooms declined 3.6per cent. Airline fares dipped 0.1per cent. Healthcare costs increased 0.5per cent, driven by a 1.3per cent rise in dental services, which was the biggest gain in three years. There were also increases in hospital services and prescription medication. The costs of services excluding energy services increased 0.3per cent after gaining 0.2per cent in May. A slowing labor market, which is curbing wage growth, is also contributing to keeping services inflation in check. The overall core CPI inflation increased 2.9per cent in the 12 months through June after rising by 2.8per cent for three straight months. "If the recent tariffs threatened for August 1 go into effect, it will take a few months for that additional boost to inflation to be felt in goods prices and will keep the Fed on the sideline unless the labor market takes a sudden turn for the worse," said Ryan Sweet, chief US economist at Oxford Economics. Goldman Sachs is forecasting monthly core CPI inflation increases of between 0.3per cent-0.4per cent over the next few months, reflecting tariff-related increases in the prices of consumer electronics, autos and apparel. The investment bank expects limited near-term impact on core services inflation. Based on the CPI data, economists estimate core PCE increased 0.3per cent in June after rising 0.2per cent in May. Core PCE inflation was forecast to have advanced 2.8per cent on a year-over-year basis last month after climbing 2.7per cent in May. Those estimates could change after the release on Wednesday of producer price data, but some economists are hopeful that weakening demand will limit the scope for businesses to pass on tariffs to consumers. "With consumers becoming more cautious about spending and the job market starting to lose some momentum, the recent price increases are expected to be gradual rather than dramatic," said Sung Won Sohn, a finance and economics professor at Loyola Marymount University.
India Today
an hour ago
- India Today
India, US close to finalising jet engine co-production deal for fighter aircraft
India and the United States are moving closer to finalising the much-anticipated deal for the co-production of GE-414 jet engines, defence officials informed India agreement is expected to be signed by the end of this financial year. Once inked, the deal will mark a significant step forward in India's aim to become a leading jet engine manufacturer in the coming GE-414 engines are set to power the upcoming LCA Mark 2 fighter jets, which are expected to be inducted into the Indian Air Force (IAF) within the next four years. The deal has faced delays due to prolonged discussions between Hindustan Aeronautics Limited (HAL) and US-based GE Aerospace. Under the agreement, the engines will be manufactured in India, contributing to the country's self-reliance on defence a parallel development, India received the second GE-404 engine from the US on Monday for the LCA Mark 1A programme. The engine was handed over to HAL, which is set to receive 12 more GE-404 engines by the end of the financial engines will power the LCA Mark 1A aircraft, for which the IAF has already placed an order for 83 units. A proposal to procure 97 additional fighters is also in an advanced stage of this year, GE Aerospace delivered the first of 99 F404-IN20 engines to HAL for the same programme. HAL is now working to integrate these engines into the Mark 1A jets and aims to deliver more than 10 aircraft to the IAF reviews of the project continue, with Principal Secretary to the Prime Minister PK Misra recently visiting HAL's Bengaluru facility to assess progress on both the LCA Mark 1A and Mark 2 LCA Mark 2 is envisioned to replace the aging Mirage 2000, Jaguar, and MiG-29 fleets by around 2035. In the next decade, India aims to manufacture over 400 LCA jets powered by variants of GE engines.- EndsTune InMust Watch
