The Shehbaz Sharif-led Pakistani government, which had initially made tall claims about launching austerity plans and cutting down on expenditures, has approved a staggering 188 per cent increase in the salaries of cabinet ministers, ministers of state and advisors.
The wholesale inflation in February quickened to 2.38 per cent on an annual basis, as against 2.31 per cent in January, government data showed on Monday.
The food inflation in February has come down to the lowest level since May 2023 and is 222 basis points lower in comparison to January, according to the official statement.
India’s services sector witnessed a strong rebound in February with the Purchasing Managers' Index (PMI) rising to 59.0, a significant improvement from January’s 26-month low of 56.5.
Food expenses for the lowest income class in South Korea rose nearly 40 per cent over the past five years as soaring food inflation placed a heavier financial burden on low-income individuals, government data here showed on Sunday.
Amidst mixed signals from global peers, investor sentiment remained volatile, influenced by uncertainties surrounding pivotal policy decisions from major central banks, says Vinod Nair, Head of Research, Geojit Financial Services.
This is the third consecutive month of decline in the annual rate of WPI inflation, which had stood at 0.73 per cent in December.
The preference change is despite the fact that 55 per cent of Indians continued to believe their disposable income had been majorly impacted by inflation.
India’s wholesale inflation stood at 0.27 per cent in January, better than 0.73 per cent in the previous month, official data released on Wednesday showed.
The Reserve Bank of India (RBI) projected the retail inflation falling to below 5 per cent on considerable certainty on the food price outlook and some softening in the growth of input costs.
