The effectiveness of the monetary policy has proven strong as the country reduced the inflation by 310 bps from the peak of 7.8 per cent in April 2022 to 4.7 per cent in April 2023, according to a statement from the industry body.
A journalist based in Gilgit Baltistan has claimed that people in Pakistan-occupied Kashmir (PoK) are facing high inflation and their lives are ruined.
She said central banks must remain resolute in keeping policies tight and recognize that insufficient monetary tightening now may necessitate even more painful actions down the road
Stating the lockdown has created massive loss to the country, CM Baghel said several people lost their jobs due to the lockdown but the data related to job loss was yet to be released.
Indian stock indices started the fresh week on a firm note with support lent from a range of fundamentals such as continued inflow of foreign funds, easing in inflation (both retail and wholesale), and global cues.
Wholesale inflation in India based on the Wholesale Price Index turned negative in April at (-) 0.92 per cent, official data released by the Ministry of Commerce and Industry showed.
On Friday, The S&P BSE Sensex was gained 123.38 points or 0.20 per cent to 62,027.90. The Nifty 50 index added 17.80 points or 0.1 per cent to 18,314.80.
Retail inflation in India having moderated sharply in April substantiated the Reserve Bank of India's (RBI) decision to pause the repo rate in its first 2023 monetary policy meeting, according to SBI Research.
India's headline consumer price index-based (CPI) inflation (or retail inflation) has gradually declined from its peak of 7.8 per cent in April 2022 to below 6 per cent now - which is below RBI's upper tolerance band.
Crime is on the rise in Pakistan as it struggles to overcome its economic crisis. The country's citizens are unable to fend for daily essentials and hunger is increasing among people.