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WPI inflation rises to seven-month high at 1.3% in September
India’s wholesale price inflation picked up pace in September hitting a seven-month high at 1.3%, driven mostly by quickening of food prices, which may force the central bank to opt for a prolonged pause on policy rates.
Data released by the industry department showed wholesale price food inflation shot up to 8.17% in September from 3.84% a month ago, as vegetable prices of potato (107.63%) and pulses (12.53%) rose significantly.
Retail inflation, data for which was released on Monday, also had accelerated to a four month high at 7.34% in September, remaining well above the central bank’s targeted range for the sixth consecutive month, as food prices rose.
On Friday, the reconstituted Monetary Policy Committee (MPC) of Reserve Bank of India (RBI) kept policy rates unchanged as inflation continued to remain high even as it took a slew of measures to reduce borrowing cost of credit. Governor Shaktikanta Das said inflation will ease gradually towards the target in the third and fourth quarter of the fiscal.
The MPC has hence decided to look through the current inflation hump as transient and address the more urgent need to revive growth and mitigate the impact of COVID-19. This has provided the space for continuing with the accommodative stance with forward guidance as set out in the MPC’s resolution,” Das said in his statement.
Aditi Nayar, principal economist at ICRA Ltd said similar to the trend displayed by the retail inflation, wholesale price inflation was driven by a quickening in the prices of food items.
“The disaggregated data did not provide much comfort regarding the inflation outlook, and today’s data further cements the likelihood of an extended pause from the MPC. The pace with which vegetable prices recede back to more normal levels will crucially guide the outlook for food and headline inflation in the near term,” she added.
While TCS is also benefiting from the acceleration in tech spending, especially around cloud and digital services, it just so happens that momentum is on the side of Infosys.
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Also Read : CORONA PATIENTS RECOVER RATE IN-COUNTRY IS 87.5 PERCENT
Haryana
Delhi Weather and AQI Today: Warm start at 22.05 °C, check weather forecast for October 22, 2024
Check the weather forecast and air quality updates for Delhi on October 22, 2024 here.
The temperature in Delhi today, on October 22, 2024, is 32.93 °C. The day’s forecast indicates a minimum and maximum temperature of 22.05 °C and 35.04 °C, respectively. The relative humidity is 26% and the wind speed is 26 km/h. The sun rose at 06:26 AM and will set at 05:44 PM.
Tomorrow, on Wednesday, October 23, 2024, Delhi is predicted to experience a minimum and maximum temperature of 27.42 °C and 34.91 °C, respectively. Tomorrow humidity levels will be at 20%.
With temperatures ranging between 22.05 °C and 35.04 °C, prepare for a hot day and plan outdoor activities accordingly. If you are sensitive to heat, take note of the weather forecast and consider appropriate attire and activities suitable for the prevailing weather.
The AQI in Delhi today stands at 334.0, falling in the very poor category. Everyone should be cautious. Children and people with respiratory diseases, such as asthma, should stay indoors and others should also limit their outdoor activities. Usage of masks and air purifying devices is advised. Being aware of the AQI helps one make informed decisions regarding one’s overall well-being while planning the day’s activities.
Weather and AQI predictions in Delhi for next 7 days:
Date Temperature Sky October 23, 2024 32.93 °C Sky is clear October 24, 2024 32.69 °C Sky is clear October 25, 2024 32.5 °C Sky is clear October 26, 2024 32.07 °C Sky is clear October 27, 2024 30.69 °C Sky is clear October 28, 2024 31.29 °C Sky is clear October 29, 2024 32.09 °C Sky is clear
Weather in other cities on October 22, 2024
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