Retail inflation at 8-yr low of 1.55% in July
The consumer price index (CPI) based inflation was 2.1 per cent in June and 3.6 per cent in July 2024. The July 2025 inflation is the lowest since June 2017 when it was at 1.46 per cent.
'The significant decline in headline inflation and food inflation during the month of July 2025 is mainly attributed to favourable base effect and to decline in inflation of pulses and products, transport and communication, vegetables, cereal and products, education, egg and sugar and confectionery,' the National Statistics Office (NSO) said. The year-on-year food inflation rate in July was (-) 1.76 per cent.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
2 hours ago
- The Hindu
Leak of complaint submitted to CPI(M) Polit Bureau triggers political controversy
A political controversy appears to be brewing over the media leak of a 'confidential complaint' purportedly submitted to the Polit Bureau (PB) of the Communist Party of India (Marxist) [CPI(M)] by a Kozhikode-based businessperson. The controversial letter reportedly implicated a group of CPI(M) leaders, including former Ministers, in financial scams centred around a U.K.-based businessperson from Kerala. The complaint emerged in the public domain on Sunday after the NRI businessperson adduced it as evidence in a libel suit filed by him against his rival and some sections of the media in a Delhi court. Graft charges The Congress-led United Democratic Front (UDF) and Bharatiya Janata Party (BJP) seized on the somewhat knotty controversy riddled with accusations of financial shenanigans, corruption, money laundering and nepotism in an attempt to put the Left Democratic Front (LDF) government on the defensive. Leader of the Opposition V.D. Satheesan demanded a clarification from the party and the government on the veracity of the accusations raised by the Kozhikode-based businessperson. Mr. Satheesan said the crux of the litigation appeared to be bitter feuding between two business rivals for the patronage of powerful CPI(M) leaders. He noted financial transactions involving the next of kin of CPI(M) leaders might be at the root of the scandal. Nevertheless, Mr. Satheesan stated, Chief Minister Pinarayi Vijayan and CPI(M) State secretary M.V. Govindan owed the public an explanation. He said the presence of the U.K.-based businessperson at the CPI(M)'s 24th party conference in Madurai in April, and his attendance at the Kerala Loka Sabha conference added to the political intrigue. Kerala Pradesh Congress Committee (KPCC) president Sunny Joseph, MLA, stated that the sensational leak was mystifying and appeared to signal that 'something was rotten' in the CPI(M) 's State leadership. He said the scandal had the contours of official corruption with international ramifications and hidden rivalries within the CPI(M) leadership. Mr. Joseph demanded an investigation. 'Calls for inquiry' BJP former State president K. Surendran said the accuser had alleged in the letter that the NRI businessperson's paper company registered in Chennai had profited from government projects. 'If the accusations are true, they warranted an inquiry under the anti-money laundering and foreign exchange management laws,' he said. The CPI(M) was yet to formally react to the BJP and Congress's accusations.
Economic Times
4 hours ago
- Economic Times
Gold price prediction: Bullion experts offer outlook for likely gold rate for September
Gold prices are likely to see some consolidation/correction in the coming week, analysts have predicted. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads FAQs Gold rates are likely to witness a phase of consolidation in the coming week as traders weigh a mix of global economic indicators, cues from central banks and shifting geopolitical dynamics, analysts said. Traders will monitor US housing numbers, consumer price data from the UK and Eurozone, and provisional PMI releases from key economies. Also, investors will closely track European Central Bank's President Christine Lagarde speech as well as commentary by Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium, which will provide further insights for the broader trajectory of the bullion prices, they added."Gold prices are likely to see some consolidation/correction in the coming weekGold prices are likely to see some consolidation/correction in the coming weekas focus now remains on the incoming US macroeconomic data and the Federal Reserve's meeting next month with interest rate cuts in focus."In the week ahead the focus will be on US housing data, CPI numbers from the UK and the Euro zone and the provisional data on manufacturing/ services PMI from across regions," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services, Mer noted that safe-haven demand has eased after Washington and Beijing agreed to extend trade negotiations for another US-Russia talks to end war in Ukraine had some progress but ended without any to Mer, weaker US macroeconomic data have highlighted a slowdown in the economic activity, but a firm producer and import price data have kept inflation concerns alive, leaving Fed officials divided on the timing of interest rate Saturday, Comex gold futures for December contracts ended lower at USD 3,382.60 per ounce in New Modi, Analyst - Precious Metal Research, Motilal Oswal Financial Services , said gold prices lost ground last week as safe-haven demand eased amid shifting geopolitical and economic White House clarified that reports of US tariffs on Swiss gold were inaccurate, reversing a brief price rally that had been driven by confusion following a Customs and Border Protection the same time, optimism surrounding a potential ceasefire in Ukraine gained traction, particularly after a high-profile meeting between US President Trump and his Russian counterpart Vladimir Putin in the extension of the US-China tariff truce signalled easing trade tensions further capping demand for gold as a safe-haven the supportive side, Modi said a weaker dollar and rising expectations of a US rate cut in September provided a cushion. "Soft inflation data spurred dovish bets and Treasury Secretary Bessent hinted at a deeper 50-basis-points reduction.A1. On Saturday, Comex gold futures for December contracts ended lower at USD 3,382.60 per ounce in New York.A2. The extension of the US-China tariff truce signalled easing trade tensions further capping demand for gold as a safe-haven asset.
Time of India
5 hours ago
- Time of India
Gold price prediction: Bullion experts offer outlook for likely gold rate for September
Gold rates are likely to witness a phase of consolidation in the coming week as traders weigh a mix of global economic indicators, cues from central banks and shifting geopolitical dynamics, analysts said. Traders will monitor US housing numbers, consumer price data from the UK and Eurozone, and provisional PMI releases from key economies. Also, investors will closely track European Central Bank's President Christine Lagarde speech as well as commentary by Federal Reserve Chair Jerome Powell at the Jackson Hole Symposium, which will provide further insights for the broader trajectory of the bullion prices, they added. Gold Rate Prediction "Gold prices are likely to see some consolidation/correction in the coming weekGold prices are likely to see some consolidation/correction in the coming weekas focus now remains on the incoming US macroeconomic data and the Federal Reserve's meeting next month with interest rate cuts in focus. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Best Method for a Flat Stomach After 50 (It's Genius!) Lulutox "In the week ahead the focus will be on US housing data, CPI numbers from the UK and the Euro zone and the provisional data on manufacturing/ services PMI from across regions," Pranav Mer, Vice President, EBG - Commodity & Currency Research, JM Financial Services, said. Pranav Mer noted that safe-haven demand has eased after Washington and Beijing agreed to extend trade negotiations for another 90-days. Live Events Meanwhile, US-Russia talks to end war in Ukraine had some progress but ended without any conclusion. According to Mer, weaker US macroeconomic data have highlighted a slowdown in the economic activity, but a firm producer and import price data have kept inflation concerns alive, leaving Fed officials divided on the timing of interest rate cuts. On Saturday, Comex gold futures for December contracts ended lower at USD 3,382.60 per ounce in New York. Manav Modi, Analyst - Precious Metal Research, Motilal Oswal Financial Services , said gold prices lost ground last week as safe-haven demand eased amid shifting geopolitical and economic developments. The White House clarified that reports of US tariffs on Swiss gold were inaccurate, reversing a brief price rally that had been driven by confusion following a Customs and Border Protection note. At the same time, optimism surrounding a potential ceasefire in Ukraine gained traction, particularly after a high-profile meeting between US President Trump and his Russian counterpart Vladimir Putin in Alaska. Also, the extension of the US-China tariff truce signalled easing trade tensions further capping demand for gold as a safe-haven asset. On the supportive side, Modi said a weaker dollar and rising expectations of a US rate cut in September provided a cushion. "Soft inflation data spurred dovish bets and Treasury Secretary Bessent hinted at a deeper 50-basis-points reduction. FAQs Q1. What is gold prices for December? A1. On Saturday, Comex gold futures for December contracts ended lower at USD 3,382.60 per ounce in New York. Q2. Is there any sign for gold rate? A2. The extension of the US-China tariff truce signalled easing trade tensions further capping demand for gold as a safe-haven asset.
