The inflation decline comes on the heels of positive jobs data, with hiring accelerating in September and the unemployment rate falling to 4.1 per cent
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According to data released by the Ministry of Statistics and Programme Implementation recently, retail inflation or Consumer Price Index in August was at 3.65 per cent
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High inflation is like a termite that eats into the returns generated by the savings and investments of an investor
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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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