Inflation

After a meeting slated for this week, the Life Insurance Corporation (LIC) board would finalize its results for the Fiscal Year 2022. The insurer is expected to file a revised public offer document this coming week and listing would be done by 12th May. Furthermore, the results, once approved, would be sent to the Insurance Regulatory and Development Authority of India (IRDAI), following which the revised document would be filed.

According to official data, the UK inflation jumped to 5.4% in December, becoming the highest in 30 years. It has put more pressure on the Bank of England to raise interest rates next month. The higher energy costs, resurgent demand, and supply chain issues continued to drive up consumer prices. The surge in CPI is likely to impact food and drink, restaurants, furniture following household goods.

Pakistan's opposition party, Pakistan Democratic Movement (PDM), slammed Imran Khan-led Pakistan Tehreek-i-Insaaf (PTI) government as a threat to the country's sovereignty on November 14. It also held a rally at Karachi's busy Regal Chowk to protest against inflation under the Imran government. Moreover, the party questioned the economic policies of PTI and called the government led by it as the result of  "rigged and stolen elections".

According to reports, Rahul Gandhi in a tweet wished for Modi Government to be sensitive towards Indian citizens due to an increased inflation during the time of Diwali. He made the statement in concern with the extreme hike in petrol and diesel prices for the seventh time in a row. His tweet read, "It's Diwali. Inflation is at its peak. It's not a joke."

The Department of Food and Public Distribution has asked major oil-producing states to take required measures to ensure the reduction in the prices of edible oils. The directions have been given to eight states, including Tamil Nadu, Gujarat, and Uttar Pradesh. The reduction would thereby help in bringing down the food inflation levels, by providing relief to customers if prices reduce by Rs 15 to 20 per kilogram.