China's consumer sector fell into deflation and factory-gate prices extended declines in July, as the world's second-largest economy struggled to revive demand and pressure mounted for Beijing to release more direct policy stimulus.
Energy prices declined 6.3 per cent in March, led by natural gas in Europe and coal, the World Bank’s Pink sheet reported.
Prices of essentials are rising sharply and going beyond the people’s reach due partly to domestic reasons, including market distortion by a small number of dominant firms and lax regulations, said the Centre for Policy Dialogue (CPD) today.
Non-bank financial institutions (NBFIs) have been witnessing a persistent fall in deposits for the past one year as many clients withdrew their savings to manage expenses amid the soaring cost of living and lower returns.
The current lending rate, which equals the inflation rate, has brought about major challenges for the economy as a negative interest rate has prompted many large clients to borrow hugely despite subdued demand, giving them the leeway to divert funds to the unproductive sector.
Amid the struggle to cope with the record hike in edible oil prices, a fresh surge in prices of other daily essentials has dealt a further blow to those with low incomes.
The month of Ramadan is a time of sacrifice. But what is going on in our markets? Prices of daily necessities are constantly on the rise. Vegetables, fish, meat, spices and rice are all costlier than before and have even become unaffordable for some.