India’s key Economic Indicators, CPI and WPI Index for the month of June 2014

India's Wholesale Price index for the month of June 2014

India's Consumer Price index for the month of June 2014

#India’s key Economic Indicators, #ConsumerPrices and #WholesalePrices Index for the month of June 2014. . .

India’s Annual Inflation rate based on all India general Consumer Price Index CPI for June 2014 stood at 7.31% as compared to 8.28% for May 2014

‪#‎WPI‬ ‪#‎WholesaleInflation‬ stood at 5.43% for the month of June 2014 as compared to 6.01% for May 2014 and 5.16% for June 2013.

#‎IndiaInflationData #‎WholesalePriceIndex‬‬‬ ‪#‎CPI‬ ‪#‎ConsumerPriceIndex‬ ‪#‎IndiaInflationIndex‬ ‪#‎Inflation‬ ‪#‎India‬ #RetailInflation #WholealeInflation #IndiaEconomicData #InflationUpdate #Inflation

For more Informative post click :
https://www.linkedin.com/company/jhunjhunwalas

Israel Central Bank cuts interest rates by 25 bps on surprise fall in inflation

24th February 2014

Israel's central bank cut its benchmark interest rate by 25 basis points to 0.75 percent after a surprise fall in January inflation, pessimism among consumers and continued strength of the shekel.
    The Bank of Israel (BOI), which cut its rate by 75 basis points in 2013, said the decision to cut the rate was consistent with the bank's aim of entrenching inflation within a 1-3 percent range and it would use its tools to achieve this objective along with encouraging growth and employment while it would continue to keep a close watch on asset markets, including the housing market.
    Israeli consumer prices fell by 0.6 percent in January, higher than an expected 0.2 percent fall, pushing down the annual inflation rate to 1.4 percent from 1.8 percent in December. As a consequence,  private forecasters reduced their inflation projections to an average of 1.6 percent over the next 12 months while capital market's expectations were steady at 1.9 percent and inflation expectations derived from banks' own interest rates were unchanged at 1.4 percent.
    Private forecasters and market interest rates also indicated "some probability" of a cut in rates by the BOI over the next three months while expectations for a cut over the next year are lower and some forecasters even expect an interest rate increase, the central bank said.
    Since the beginning of the year, Israel's shekel has depreciated by almost 1 percent and immediately fell further after the rate cut, dropping to 3.517 to the U.S. dollar from 3.50 before the announcement.
    But since the start of 2013, the shekel has risen by 7.3 percent the bank said, despite the BOI's efforts to hold down the shekel's exchange rate by intervening in the foreign exchange market to help the country's exporters that account for some 40 percent of the economy.
    This year the BOI has targeted foreign exchange purchases of $3.5 billion, up from $2.1 billion in 2013, to help offset the impact of natural gas production on the exchange rate.
    Recent data show that Israel's economy is "growing at a moderate pace," with estimates showing that fourth quarter Gross Domestic Product expanded by an annual rate of 2.3 percent, down from 3.3 percent in the third quarter, with a turnaround in exports mainly to volatile pharmaceutical exports while exports from labour-intensive industries are at a virtual standstill, the BOI said.
    Various indicators of activity in January point to some recovery but consumer confidence indices continue to signal pessimism and there is a lack of growth in employment and wages in business.
    Israel's unemployment rate rose to 5.8 percent in December from 5.5 percent the previous month with real wages declining by 0.4 percent in the September-November period from June-August.
     Isreali home prices, which are not included in consumer prices, rose by an annual 8.1 percent in December, up from 7.9 percent in November, and the number of transactions hit its highest level since 1997 with the share of investors in transactions steady at around 22 percent, the central bank said.

Israel cuts rate by 25 bps on surprise fall in inflation - Central Bank News

Indonesia Central Bankers raises rates by 50 bps and lowers growth forecast

Indonesia's central bank raised its benchmark BI rate by a higher-than-expected 50 basis points to 6.5 percent and the deposit rate by 50 points to 4.75 percent to "ensure that inflation will return to its target path after the fuel price hike," but also lowered its forecast for 2013 economic growth.
    Bank Indonesia already raised its rate by 25 basis points in June in a pre-emptive move to control inflation expectations, bringing this year's total rate rise to 75 basis points. The lending facility rate was held steady at 6.75 percent.
    In addition to the rate hikes, BI said it would provide adequate liquidity in the foreign exchange market to maintain a stable exchange rate, introduce loan to value regulations for property and strengthen its policy coordination with the government to "minimize inflationary pressure and to maintain rupiah exchange rate stability as well as stability to the financial system so the economic growth momentum is sustained and moves toward a more sound economy."
    Indonesia's government cut fuel subsidies on June 22 to reduce budget deficits and the BI had forecast this would trigger higher inflation. In June consumer prices rose by 5.9 percent, up from 5.47 percent in May, but the central bank said it expects the impact of higher fuel prices to last for around three months, peaking in July, then easing in August and returning to normal in September.

    "Bank Indonesia will remain vigilant and respond with measured policy to mitigate second round effects of fuel price hikes to inflation, including strengthening policy coordination with the government," the BI said.
    By 2014, the central bank expects inflation to ease to its target range of 4.5 percent, plus/minus one percentage point.
    The BI cut its forecast for economic growth this year to between 5.7 and 6.2 percent, down from its previous forecast of 6.2-6.6 percent due to lower exports from weaker-than-expected global economic growth.
    Economic growth in the second and third quarters is seen at 5.9 percent, but then growth should rebound in the fourth quarter and accelerate to a range of 6.4 to 6.8 percent in 2014.
   "Household consumption and investment are forecast to be slightly contained as a result of deteriorating purchasing power triggered by unfavorable exports and the impact of the fuel price hike," the BI said.

Indonesia raises rates 50 bps, lowers growth forecast - Central Bank News

For more details log on to Bank Indonesia website : http://www.bi.go.id/web/en/ 

Georgia Central Bank cuts rate for fourth time this year to 4.0 pct

 Georgia's central bank cut its refinancing rate by another 25 basis points to 4.0 percent, its fourth rate cut this year, as inflation remains below the bank's 6.0 percent target and is first expected to fall to that level by the end of next year.
    The National Bank of Georgia (NBG) started cutting its rates in July 2011 and has now cut rates by 125 basis points in 2013 after cutting by 150 basis points in 2012.
    In May the NBG reduced its inflation forecast for the next 18 months and said it expected the headline rate to approach its target by the end of 2014, a slightly less optimistic forecast than in March when it said it expected inflation to hit the target in the second half of next year.
    Georgia's bout with deflation continued in May, with consumer prices falling by 0.11 percent. In the last 16 months, Georgia has only seen prices rise during two months.
    In the first quarter of this year, Georgia's Gross Domestic Product rose by an annual 1.9 percent, up from 2.5 percent in the fourth quarter.

Georgia cuts rate for fourth time this year to 4.0 pct - Central Bank News

For more details log on to National Bank of Georgia website : http://www.nbg.gov.ge/?lng=eng