“GLOBAL RECOVERY POTENTIAL; FOOD PRICES EXPECTED TO DECREASE.”
Why in the news?
“India’s Finance Ministry reports global economic rebound, easing food inflation, and positive domestic indicators for March 2024.”
source:medium
About the Global Economic Outlook:
- The Finance Ministry of India highlighted a positive global economic trend, with major economies experiencing growth rebounds, which could benefit India’s economy.
- Despite concerns over high food inflation in some major economies, India saw a slight decrease in food inflation to 8.5% in March, with retail inflation at a 10-month low of 4.85%.
- The ministry emphasised the importance of the upcoming monsoon forecast, anticipating above-normal rainfall to positively impact harvests and potentially further ease domestic food prices.
What is Consumer Food Price Inflation (CFPI)?
|