The National Bank of Hungary (NBH) sees tax-adjusted core inflation, its preferred measure of lasting price trends, at 3.4% this year and next, below its June forecasts, the NBH said in its quarterly inflation report published on Thursday.
India’s retail inflation rose close to the central bank’s medium-term target of 4% in September for the first time in 14 months, but analysts still predict a sharp economic slowdown will prompt a sixth consecutive interest rate cut in December.
India’s economy, it seems, has entered the stagflation phase with the key macro-economic data showing dwindling manufacturing activity as the subdued demand conditions contracted the October factory output by 3.8 per cent.
The Consumer Price Index (CPI) inflation rate increased to 10.21 per cent in the country in June, the Pakistan Bureau of Statistics (PBS) said.
China has decided to keep its inflation target unchanged this year at around 3 per cent, sources said, suggesting policymakers will continue to roll out economic stimulus gradually and avoid more aggressive measures.
Turkey’s annual inflation rate rose slightly more than expected to 11.84 per cent in December, official data showed on Friday, ending the year close to a government target and probably narrowing the window for more interest rate cuts in 2020.
The Reserve Bank of India (RBI) kept rates steady and left the door open for more monetary easing on Thursday, as it sought to support faltering economic growth and avoid stoking already heightened inflation levels.
Despite recent strength in India’s factory sector, the Monetary Policy Committee said economic activity in India “remains subdued and the few indicators that have moved up recently are yet to gain traction in a more broad-based manner.”
Britain’s inflation rate dropped in March when oil prices tumbled and the coronavirus crisis escalated, official data showed on Wednesday, with a fall in clothing and footwear prices signalling how cautious shoppers were turning.