US inflation data

The US consumer price index rose by 8.5 per cent year-on-year in July, a slower annual increase compared to June, as inflationary pressures eased on the ...

The inflation data reflected the lower energy prices, which could take some pressure off the Federal Reserve to continue aggressively hiking interest rates.

Shelter costs — which are the biggest services’ component and make up about a third of the overall CPI index — rose 0.5 percent from June and 5.7 percent from last year, the most since 1991. The impact of inflation on wages has started to dent spending, with the pace of personal consumption growth decelerating between the first and second quarters. That reflected a 0.7 percent jump in rent of primary of residence. After data last week showed still-robust labor demand and firmer wage growth, a further deceleration in inflation could take some of the urgency off the Fed to extend outsize interest-rate hikes. Utility prices fell 3.6 percent from June, the most since May 2009. But annual inflation remains high at more than 8 percent and food costs continue to rise, providing little relief for President Joe Biden and the Democrats ahead of midterm elections.

Sensex closed 35 points lower at 58817 while Nifty50 managed to end 9 points higher at 17534. Metals company stocks were the biggest gainers on Dalal ...

And if the economy grows, India Inc's earnings would also increase. The IMF revised India's GDP growth, but India will still be the fastest-growing large economy in the world. Analysts believe the market mood has changed amid massive volatility due to macro economic conditions.

Bajaj Finance, NTPC, ONGC, HCL Technologies and Adani Ports were among the major losers. BSE midcap and smallcap indices ended on flat note. Indian markets were ...

“Investors were in a cautious mode in anticipation of the release of US inflation statistics, which will set the tone for the next FED policy meeting. This, along with strong job data, will compel the FED to keep taking a tough approach to rein in high inflation levels,” said Vinod Nair, Head of Research at Geojit Financial Services. About 1,538 shares advanced, 1,864 shares declined, while 122 remained unchanged on Wednesday.

Consumer price index reading raises hopes of slower pace of Fed rate increases.

Broader indices performed in line with main indices, with BSE midcap and smallcap indices ending flat.

The US inflation data and the domestic inflation data on August 12 can provide direction to the market. Global and domestic factors will determine the market direction in the days ahead. The index can move up to 17,600-17,650. Selling was also seen in the FMCG, PSU bank and energy names. This, along with strong job data, will compel the Fed to keep taking a tough approach to reining in high inflation levels," he added. Indian shares were under pressure as market participants turned cautious ahead of the US inflation data.

Wall Street equities rallied and Treasury yields plunged after signs of sharply decelerating U.S. inflation prompted bets that the Federal Reserve would ...

Register now for FREE unlimited access to Reuters.com Is this a solid indication inflation is waning? read more Register now for FREE unlimited access to Reuters.com Register now for FREE unlimited access to Reuters.com read more read more On the other hand assuming this data doesn't get revised its certainly good news for the economy," said Tim Ghriskey, senior investment strategist at Ingalls & Snyder in New York. In currencies, the dollar index fell 1.1%, with the euro up 1.01% to $1.0314. read more

A higher-than-expected U.S. Consumer Price Index report for July could spook markets, which are already expecting a high chance of a 75 basis point interest ...

The Dutch company said it was postponing plans for an initial public offering (IPO) of its non-food retailer, Bol.com, because of unfavourable market conditions. - 3 - 2

Consumer prices jumped 8.5% in July compared with a year earlier, the government said Wednesday, down from a 9.1% year-over-year jump in June.

Such expectations can be self-fulfilling: If people believe inflation will stay high or worsen, they are likely to take steps — such as demanding higher pay — that can then send prices higher in a self-perpetuating cycle. But a survey by the Federal Reserve Bank of New York, released Monday, showed that Americans now expect lower inflation in the next few years than they did a month ago. “It's a modestly good sign," Ma said of the inflation expectations data. The average price fell to about $4.20 by the end of July and was just $4.03 by Tuesday. The continuing drop means that lower gas prices will likely pull inflation down further in August. The Fed has raised its benchmark short-term rate at its past four rate-setting meetings, including a three-quarter point hike in both June and July — the first increases that large since 1994. And a drop in Americans' expectations for future inflation may also keep higher prices from becoming entrenched. Federal Reserve Chair Jerome Powell has said the Fed needs to see a series of declining monthly core inflation readings before it would considering pausing its interest rate increases. On Friday, the House is poised to give final congressional approval to a revived tax-and-climate package pushed by Biden and Democratic lawmakers. There have been other hopeful signs, too, that the pace of inflation may be moderating. But excluding the volatile food and energy categories, so-called core inflation likely stayed high. Core CPI was forecast to rise 0.5% from June and 6.1% from a year ago. Price changes in services tend to be sticky and don't ease as quickly as they do for gas, food or other goods.

Ahead of market opening read top business news, equity market precursors, and economic and banking news updates from India and across the world for 10 ...

Read More Here. IndoStar Capital Finance, a non-banking financial firm (NBFC) which reported losses for the quarter ending 31 March, has over the past few weeks been generating negative buzz, particularly about its inability to continue as a going concern. The government is working on a policy on floating solar power generation, offering higher incentives to companies willing to invest in plants requiring a power generation technology that is expensive, two people in the know said. Compared to the US and the UK, where inflation is approaching double digit levels, India's economy is growing at a rate of about 7% and has modest inflation. The Life Insurance Corporation of India (LIC) has disclosed a reduction in its shareholding stake in Mahindra & Mahindra Limited from 6.217% to 4.201% of the company's paid-up capital. Online food delivery platform Zomato Ltd is targeting to achieve the breakeven level between the fourth quarter of this fiscal and the second quarter of FY24, according to company CFO Akshant Goyal. In an analyst call, Goyal said the Zomato business was already positive on cash flow with its adjusted EBITDA losses at ₹150 crore and other income was ₹170 crore in the first quarter of the ongoing fiscal.

The Consumer Price Index climbed 8.5 percent in July, a bigger slowdown than expected, but inflation may remain uncomfortably high for some time.

Fed officials are highly attuned to that risk, and often cite rent as a factor that could keep inflation higher. The price of food has been driven up this year by soaring costs for farm expenses like fertilizer and gasoline, as well as the Russian invasion of Ukraine, which has sowed chaos in commodity markets. The more rapid pickup could make it harder for the Federal Reserve to return overall inflation to the low levels that prevailed before the coronavirus roiled supply chains and Russia’s war in Ukraine upended commodity markets, even if those problems stop pushing inflation so much higher. That spells trouble for economic policymakers, because housing-related costs are slow to change course and make up nearly a third of total inflation. The drop reflects a number of factors: Weaker demand because high costs have kept some drivers off the roads; a decline in global oil prices in recent months; and a handful of states suspending taxes on gasoline. Fares are expected to stay below $300 through September, before rising again, to a peak of $373 in November, up 24 percent from the same month in 2019, Hopper said. Elevated demand along with persistent shortages and delayed deliveries for some products have helped push up the prices of cars, toys, furniture, food and other goods. The Fed raised interest rates by three-quarters of a percentage point in both June and July, and officials have signaled that another one of those abnormally large increases should be up for debate at their upcoming meeting on Sept. 20-21. Doing so will give you access to the work of over 1,700 journalists whose mission is to cover the world and make sure you have accurate and impartial information on the most important topics of the day. After stripping out food and fuel costs to get a sense of underlying price pressures, prices climbed by 5.9 percent through July, matching the previous reading. We’d like to thank you for reading The Times and encourage you to support journalism like this by becoming a subscriber. The prospect of U.S. interest rates not rising as high as previously thought also pushed down the dollar, which fell more than 1 percent against a basket of currencies of major trading partners.

The Labor Department on Wednesday said the consumer-price index, a measure of what consumers pay for goods and services, rose 8.5% in July from the same month a ...

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Even if consumer inflation were to slow to 4 per cent - less than half its current level - Pugliese suggested that it would still likely cause the Fed to ...

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(RTTNews) - Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues from global markets overnight, as traders reacted ...

The major European markets all also moved to the upside on the day. A weak dollar and increased demand for gasoline also contributed to the jump in oil prices. The major averages all finished the day firmly in positive territory. West Texas Intermediate Crude oil futures ended higher by $1.43 or 1.6 percent at $91.93 a barrel. Woodside Energy is losing 1.5 percent and Origin Energy is down almost 1 percent, while Santos is edging up 0.2 percent. On Wall Street, stocks moved sharply higher during trading on Wednesday with traders reacting positively to highly anticipated consumer price inflation data. Newcrest Mining and Gold Road Resources are flat. Asian Markets closed mostly lower on Wednesday. In the currency market, the U.S. dollar is trading in the lower 133 yen-range on Thursday. Beach energy is flat. In the currency market, the Aussie dollar is trading at $0.707 on Thursday. In the tech space, Afterpay owner Block is soaring almost 9 percent, WiseTech Global is adding 2.5 percent, Xero is gaining more than 3 percent, Appen is advancing almost 4 percent and Zip is surging more than 5 percent.

Market circles said that the news could lead to the rupee appreciating against the dollar.

Earlier during the day, benchmark indices closed on a flat note because of profit booking in IT and realty shares. Market circles said that the news could lead to the rupee appreciating against the dollar. The 30-share BSE Sensex ended 35.78 points or 0.06 per cent lower at 58817.29. Similarly, the broader NSE Nifty inched up 9.65 points or 0.06 per cent to close at 17534.75. The Dollar Index which tracks the greenback against a basket of six other units was trading lower by 1.31 per cent at 104.97. The rupee today closed 14 paise higher at 79.52 against the dollar. The data led to US shares staging a sharp rally with the Dow Jones Industrial Average trading with gains of 523 points or 1.60 per cent at the time of writing this report. CPI for July rose 8.5 per cent over the previous year but fell from 9.1 per cent in June and was also lower than estimates of an increase of around 8.7 per cent.

Bajaj Finance, NTPC, ONGC, HCL Technologies and Adani Ports were among the major losers. BSE midcap and smallcap indices ended on flat note. Indian markets were ...

“Investors were in a cautious mode in anticipation of the release of US inflation statistics, which will set the tone for the next FED policy meeting. Asian stocks closed down, with Nikkei closing 0.65 per cent lower. About 1,538 shares advanced, 1,864 shares declined, while 122 remained unchanged on Wednesday.

Economists polled by Reuters had forecast a 0.2% rise in the monthly Consumer Price Index (CPI) on the heels of a roughly 20% drop in the cost of gasoline.

Register now for FREE unlimited access to Reuters.com "A broad 130-135 range may be the new normal." read more Register now for FREE unlimited access to Reuters.com read more Register now for FREE unlimited access to Reuters.com

Economists polled by Reuters had forecast a 0.2% rise on the heels of a roughly 20% drop in the cost of gasoline.

More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Your support through more subscriptions can help us practise the journalism to which we are committed. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Fed Guv Waller backs another big rate hike for 'all in' inflation fight Will markets absorb Fed's half-point whiplash?

The dollar fell more than 1 percent on Wednesday following a cooler-than-expected inflation report for July that raised expectations of a less aggressive ...

The Reserve Bank of India on Wednesday said disbursal of loans and collection of repayments must be executed only between borrowers and entities regulated by it, and that no third party should be involved in this process. The Enforcement Directorate (ED) is probing at least ten cryptocurrency exchanges for allegedly laundering more than ₹1,000 crore identified as proceeds of crime of the accused firms under investigation in the instant loan app case in which most have a China link, said people aware of the matter.AIFs Due for Closure Struggle to Sell Holdings in Startup Firms Alternative Investment Funds (AIFs) that are scheduled to wind up in the next few months have been struggling to sell their holdings in unlisted ventures and startups, as investors stay clear of risky investments due to tightening liquidity.New RBI Norms Keep 3rd Party Out of Digital Lending Process The Australian dollar, seen as a barometer of risk, was up 1.32% at $0.7054. The dollar index, which measures the currency's value against a basket of currencies, was down 1.128% at 105.15 at 9:00 a.m. Eastern time (1300 Economists polled by Reuters had forecast a 0.2% rise on the heels of a roughly 20% drop in the cost of gasoline.

The five-year swap rate was at 6.20%, down 14 basis points from a high of 6.34% hit on Monday, while the one-year swap rate was trading at 6.11%, ...

The Fed had raised rates by 75 bps each at its June and July meetings. On a month-on-month basis, prices were unchanged. Also read

Barring FMCG, all other sectoral indices ended in the green with Nifty Bank, Information Technology and PSU Bank rising up to 2 percent.

On the higher end; however, Nifty had faced a bit of selling pressure that led to a close around the day's low. It is crucial to observe how the structure develops near this make or break zone. On the flip side, a sharp intraday correction is possible if the index trades below 17,600. Technically, the Nifty is trading near its important resistance level and has also formed a small bearish candle. It witnessed minor profit booking near the trendline. Hence, the optimism spread across Asian markets, including India where investors lapped up banking, IT & realty stocks.

With increased foreign fund inflow, easing commodity prices and a less hawkish stance by the US Federal Reserve, India's equity market has seen a sharp ...

With increased foreign fund inflow, easing commodity prices and a less hawkish stance by the US Federal Reserve when it comes to future rate hikes, India’s equity market has seen a sharp rebound in the last month. “Sustained fall in commodity prices has led to inflation fears receding and this could end the rate hiking cycle soon. NEW DELHI: India’s equity market is expected to surge after the US equity market rose sharply early Wednesday as key inflation data showed a better-than-expected slowdown in rising prices.

At the close of trade, the Dow Jones Industrial Average index inclined 535.10 points, or 1.63%, to 33309.51. The S&P500 index was up by 87.77 points, ...

- - - - - More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance. As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Your support through more subscriptions can help us practise the journalism to which we are committed. Wall Street equities rallied after signs of sharply decelerating U. S. inflation prompted bets that the Federal Reserve would raise rates at a slower pace than previously expected. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world.