Topic
consumer prices
Business India inflation likely rose to 4% in May as food, fuel costs climb
A Reuters poll of 38 economists forecasts India's consumer price inflation rose to 4.0% in May, up from 3.48% in April, driven by rising vegetable prices and four fuel price hikes by state-owned retailers. The Reserve Bank of India kept rates unchanged last week, but raised its inflation forecast for the fiscal year to 5.1%. Economists warn that wholesale price inflation, which accelerated to a 3-1/2-year high of 8.3% in April, will feed through to consumer prices gradually.
Business Trump's Inflation Remarks Amid Economic Tensions
President Donald Trump expressed unexpected enthusiasm for rising inflation rates, citing energy costs linked to the Iran conflict. His administration claims to stabilize oil markets through operations in the Strait of Hormuz.
US Inflation Hits Three-Year High at 4.2%
US inflation has surged to a three-year high of 4.2%, primarily due to rising energy costs. This increase raises the likelihood of the Federal Reserve raising interest rates.