Inflation LIVE Updates: Retail inflation jumps to 8-year high of 7.79% in April; IIP growth subdued at 1.9% in March
THE TIMES OF INDIA | May 12, 2022, 20:21:41 IST
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Inflation LIVE Updates: Retail inflation jumps to 8-year high of 7.79% in April; IIP growth subdued at 1.9% in March

Soaring inflation has been a major concern in India since past few months, largely driven by rising fuel and food prices. It has stayed well above the Reserve Bank of India's upper tolerance limit for 4 consecutive months. Food inflation, which accounts for nearly half the consumer price index (CPI) basket, reached a multi-month high in April due to higher vegetable and cooking oil prices globally. Stay with TOI for all latest updates.Read Less

20:21 (IST) May 12

Industrial production growth remains subdued at 1.9% in March

Industrial production growth remained subdued at 1.9 per cent in March compared to a year ago, mainly due to poor performance by the manufacturing sector which showed staggered impact of the third wave of the pandemic. Factory output measured in terms of Index of Industrial Production (IIP) had recorded a growth of 24.2 per cent in March 2021, as per government data released on Thursday.

20:10 (IST) May 12

Inflation has soared across the world

Consumer prices have increased around the world as Russia's invasion of Ukraine pushed up crude oil and food grain price rises to record highs, prompting many central banks to raise interest rates.

20:09 (IST) May 12

Inflation at 8-year high

Consumer price index-based inflation rose more than expected to 7.79% in April year-on-year, remaining above the Reserve Bank of India's (RBI) tolerance band of 6% for a fourth month in a row, data released by National Statistics Office showed on Thursday.

20:08 (IST) May 12

Core CPI inflation

Core CPI inflation, excluding volatile food and energy prices, was estimated between 6.8 per cent and 7.1 per cent in April, by three economists, compared with 6.30% to 6.32% in the previous month.

17:43 (IST) May 12

Inflation numbers have now been above the upper limit of RBI's 2 per cent - 6 per cent tolerance band for 4 straight months.

17:43 (IST) May 12

Retail inflation jumps to 7.79% in April from 6.95% in March

Rising food prices have emerged as an overriding worry for consumers - already hit hard during two years of the pandemic - as prices of edible oil and vegetables have surged amid fears of a fall in wheat output this year.

17:23 (IST) May 12

RBI's inflation projection

In April, RBI raised its inflation forecast for the current fiscal year to 5.7%, 120 bps above its forecast in February, while cutting its economic growth forecast to 7.2% for 2022/23 from 7.8%.

17:23 (IST) May 12

In March, inflation had shot up to 6.95 per cent, a 17-month high, on the back of rising food prices.

17:23 (IST) May 12

Food inflation, which accounts for nearly half the consumer price index (CPI) basket, reached a multi-month high in March and is expected to remain elevated due to higher vegetable and cooking oil prices globally.

17:23 (IST) May 12

It has stayed well above the Reserve Bank of India's upper tolerance limit for 3 consecutive months.

17:23 (IST) May 12

Soaring inflation has been a major concern in India since past few months, largely driven by rising fuel and food prices.

17:23 (IST) May 12

Centre to release retail inflation data for the month of April shortly

16:55 (IST) May 12

PNB shares tumble nearly 14% after Q4 earnings

Shares of Punjab National Bank (PNB) on Thursday tumbled nearly 14 per cent after the company reported over 60 per cent decline in standalone net profit for the quarter ended March 2022. The stock tanked 13.60 per cent to end at Rs 28.60 apiece on the BSE. During the day, it tumbled 13.89 per cent to its 52-week low of Rs 28.50.

16:50 (IST) May 12

Sensex crashes 1,158 points; Nifty ends at 15,808: Top reasons behind today's fall

Equity indices plunged for the 5th straight session on Thursday with the benchmark BSE sensex crashing over 1,000 points amid weak cues from global markets. According to experts, investors remained cautious ahead of announcement of inflation rate for April and industrial production data for March.

16:46 (IST) May 12

Domestic stock markets

Domestic stock markets have in recent weeks been roiled by fears of sky-high inflation, a surprise interest rate hike, foreign fund outflows and mixed set of corporate results.

16:41 (IST) May 12

Volatility

Stocks have been volatile for much of 2022, fuelled by China's Covid-19 lockdowns, Russia's invasion of Ukraine, and surging inflation that has dampened consumer sentiment.

16:30 (IST) May 12

Asian and European stocks

Asian and European equities slumped on Thursday following Wall Street's lead, after a key US report renewed fears of inflation and a tightening of monetary policies.

16:18 (IST) May 12

Unabated selling by foreign institutional investors also continued to weigh on market sentiments.

Foreign institutional investors offloaded shares worth Rs 3,609.35 crore on Wednesday, according to stock exchange data.

16:06 (IST) May 12

Undoubtedly, the biggest negative catalyst continues to be inflation all over global economies. The anxiety at stock markets across globe is on the backdrop Federal Reserve's next strategy on interest rates...

Prashanth Tapse, vice president (research), Mehta Equities told PTI news agency

15:53 (IST) May 12

Investors remained cautious ahead of announcement of inflation rate for April and industrial production data for March.

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Inflation LIVE Updates: Retail inflation jumps to 8-year high of 7.79% in April; IIP growth subdued at 1.9% in March