The central bank says treating food price spikes as merely temporary is increasingly untenable, particularly as these price pressures threaten to spill over into more generalised inflation
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The index numbers are compiled with data received from institutional sources and selected manufacturing units across the country
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"CPI inflation is expected to remain below or close to 5.0 per cent in the remaining months, except for Sep'24 and October 2024," the report says
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Annual retail inflation in May was at a 12-month low of 4.75 per cent, marginally down from 4.83 per cent in April
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While Prime Minister Rishi Sunak welcomed the fall in headline inflation in May, it has likely come too late to turn around his fortunes in British elections on 4 July or to prompt a Bank of England rate cut on Thursday
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The headline CPI inflation for May 2024 is marginally down to 4.75 per cent from the previous month's 4.83 per cent
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Inflation is the hidden enemy that eats into your savings and plays havoc with your financial goals. Here is how to invest smartly and secure your future
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The annual rate of inflation, calculated over the corresponding month of the previous year, stands at 1.26 per cent. This increase is primarily attributed to rises in prices across various sectors
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Few experts believe that it is not a full-fledged war and imposes only short-term disruptions to the market which could further bring buying opportunity
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