Cost of Living LIVE Updates Dec 12: Fuel prices steady. Check petrol and diesel prices in your city
Cost of Living LIVE Updates December 12: The cost of living is the amount of money one needs to survive in a given place – and one's most essential needs such as food, water, housing, taxes, cost of commute, healthcare, etc. The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket.
Since the Russia-Ukraine war broke out, the cost of raw materials and commodities has gone up. This has increased India's payments outgo for oil, gold, and other commodities.The services sector growth in India fell to a one-year low in November on softer expansions in new work intakes and output, despite receding price pressures, a monthly survey said on December 5.
The seasonally adjusted S&P Global India Services Business Activity Index fell from 58.4 in October to a one-year low of 56.9 in November. Despite witnessing a month-on-month decline, the rate of expansion was stronger than its long-run average.
In Purchasing Managers' Index (PMI) parlance, a print above 50 means expansion while a score below 50 denotes contraction. The survey is compiled from responses to questionnaires sent to a panel of around 400 service sector companies.India's consumer price index (CPI)-based inflation, or retail inflation, might have risen above the RBI's tolerance limit of 6 percent in November, from 4.87 percent in October, according to Barclays' estimates.
"We estimate that CPI inflation rose in November to 6.15 percent year-on-year (YoY), a sharp reversal from the moderating trajectory over the past couple of months (October: 4.9 percent, September: 5 percent). Core inflation likely remained stable, and we expect further deflation in fuel prices," Barclays said in a report.PETROL (Rs/L) -
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