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India’s June wholesale inflation stood at 5.77%

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New Delhi, July 16: Wholesale price-indexed (WPI) inflation in India during June stood at 5.77 per cent against 4.43 per cent in the previous month, the Commerce Ministry data showed on Monday.

According to the data, the WPI inflation rate was also higher on year-on-year (YoY) basis as in June 2017 was at 0.90 per cent.

“The annual rate of inflation, based on monthly WPI, stood at 5.77 per cent (provisional) for June 2018 (over June 2017) as compared to 4.43 per cent (provisional) for the previous month and 0.90 per cent during the corresponding month the previous year,” the Ministry said.

“Build up inflation rate in the financial year so far was 2.49 per cent compared to a build up rate of (-) 0.44 per cent in the corresponding period of the previous year.”

On a sequential basis, the expenses during the month under consideration on primary articles, which constitute 22.62 per cent of the WPI’s total weightage, increased by 5.30 per cent, from a marginal hike of 3.16 per cent in May this year.

Among primary and basic articles, food items, which has a weightage of 15.26 per cent in the index, climbed up last month by 1.80 per cent from a acceleration of 1.60 per cent reported for May.

The fuel and power price, which commands a 13.15 per cent weightage in WPI, rose at a fast pace of 16.18 per cent during the month, from a increase of 11.22 per cent in May.

Meanwhile, expenses on manufactured products hiked by 4.17 per cent, from 3.73 per cent in the previous month.

On a YoY basis, onion prices in June soared higher by 18.25 per cent, while potatoes by 99.02 per cent.

Similarly, the prices of both high-speed diesel and petrol edged up higher than in the previous month of last year, by 17.45 per cent and 21.63 per cent.

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India’s wholesale inflation eases to 5.09% in July

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wholesale inflation

New Delhi, Aug 14: India’s annual rate of inflation based on wholesale prices eased to 5.09 per cent in July from a rise of 5.77 per cent in June, official data showed here on Tuesday.

The data on wholesale price index (WPI) furnished by the Ministry of Commerce and Industry showed that the rate of inflation had risen 1.88 per cent during the corresponding month in 2017.

IANS

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Rupee hits record low of 70.08 against US dollar

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India Rupee

New Delhi, Aug 14: Fears over a rise in global protectionist measures, along with a strong US economy, dragged the Indian rupee to a fresh intra-day low of over 70 against a US dollar during the pre-afternoon hours on Tuesday.

Around 11.00 a.m., the rupee plunged to 70.08 to a US dollar. However, soon afterward the Reserve Bank of India (RBI) is said to have intervened in the open market to curb the rupee’s free fall.

The intervention aided the rupee to stabilise just a tad below 70 to a USD at 69.98 around 11.05 a.m.

IANS

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Macro-data, global cues push equity indices higher

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SENSEX NIFTY MARKET

Mumbai, Aug 14: Positive macro-economic inflation data along with supportive Asian stock exchanges pushed the key indices of the Indian equity market higher during the morning trade session on Tuesday.

According to market observers, healthy buying was witnessed in banking, consumer durable and FMCG stocks.

Around 9.40 a.m., the broader Nifty50 of the National Stock Exchange (NSE) traded at 11,396.35 points — higher by 40.60 points or 0.36 per cent — from its previous close.

The barometer 30-scrip Sensitive Index (Sensex), which opened at 37,749.59 points, traded at 37,790.70 points — higher by 145.80 points or 0.35 per cent — from its previous session’s close of 37,644.90 points.

Sensex has so far touched a high of 37,829.83 points and a low of 37,689.71 points during the intra-day trade.

ANI

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