Cost of Living Highlights December 7: 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.
Wireless CCTV camera for home security? Here are top 10 options
As the demand for robust home security solutions continues to rise, wireless CCTV cameras have emerged as indispensable components in safeguarding homes. These sophisticated devices offer unparalleled convenience, flexibility, and efficiency in monitoring and protecting your living space. In this comprehensive guide, we present the top 10 wireless CCTV cameras, each designed to elevate your home security to new heights. Read more here
Should I opt for deductibles to reduce insurance premium?
One can consider buying a family floater insurance for the parents. It is usually more affordable than buying two individual policies. These plans often offer more convenience too, considering ageing parents. Read more here
Punjab: Bhagwant Mann launches service for doorstep delivery of govt facilities
Punjab chief minister Bhagwant Mann on Thursday launched a service named 'Bhagwant Mann Sarkar Aapke Dwar', encompassing 42 facilities.
The service, accessible by dialing the designated number 1076, allows citizens to take an appointment and obtain certificates at their doorstep, said the chief minister.
“We are starting a service named 'Bhagwant Mann Sarkar Aapke Dwar'. 42 services will be included in this and a number 1076 will be launched. By calling this number you can take an appointment, get your certificate made. You will get all these facilities at your doorstep," Mann said.
From iPhone 15 Pro to Google Pixel 8 Pro: Here are the top 5 best camera smartphones of 2023
Smartphones have undergone significant transformations over time, expanding their capabilities beyond basic calling functions. Owning a smartphone with an excellent camera is crucial for individuals passionate about photography or those who frequently capture moments. With the prevalence of dual or triple camera setups in most smartphones, selecting the ideal device can be challenging given the multitude of options in the market. Hence, here is a list of best smartphones from 2023. Read more here
Gold gains ₹100, silver falls ₹800
Gold price on Thursday gained ₹100 to ₹62,950 per 10 grams in the national capital amid a rise in the price of precious metal globally, reported PTI citing HDFC Securities.
The yellow metal had ended at ₹62,850 per 10 grams in the previous trade.
Silver plunged ₹800 to ₹77,300 per kilogram. In the previous trade, it had settled at ₹78,100 per kg.
In the futures trade, the February contract of gold climbed ₹90 to ₹62,530 per 10 grams on the MCX. Also, silver's March contract gained ₹61 to ₹74,892 per kg on the bourse.
Veg, Non-Veg thalis get costlier by 5-10% in November: Report
Both vegetarian and non-vegetarian thalis became costlier in November due to the rise in tomatoes and onion prices, according to rating agency CRISIL's roti rice rate index.
The cost of the home-cooked veg and non-veg thalis increased 10% and 5% last month respectively, CRISIL MI&A Research estimates revealed. Read more here
IIT Hyderabad invites Women applicants for Assistant Professor post in various departments
The Indian Institute of Technology Hyderabad (IITH) has invited women candidates to fill the position of Assistant Professor in various departments. Eligible and interested candidates can be send their applications online through the official website i.e. iith.ac.in. As per the notification, the last date to apply is 22nd December. Read more here
Searching for best game console? Choose from 8 top picks and enjoy gaming
In an era where gaming has become a ubiquitous form of entertainment, the quest for the best game console is more fervent than ever. Notably, gaming is not just a pastime; it has evolved into a cultural phenomenon, captivating audiences of all ages worldwide. As children and adults alike seek new and exciting gaming experiences, the demand for innovative consoles is skyrocketing. Read more here
Income tax on pension: How various pension schemes, annuities are taxed
As per the income tax laws, any money or benefit received in connection with your employment present and past is taxed under the head salaries. Find more here
Wedding season: 8 key tips for discussing finances with your partner
It’s wedding season and aspiring couples are eagerly anticipating the most favourable dates in the upcoming days to embark on a lifelong journey together. Beyond dreams and ambitions, the way a couple perceives financial goals plays a crucial role in evaluating their compatibility.
However, one may ponder at what juncture these discussions should commence. Timing is crucial in all aspects, and like other issues that demand a married couple’s attention, financial matters should also be jointly addressed at the appropriate time. Engaging in financial discussions with your spouse or family involves several essential steps, some of which can be found here.
Apple plans to launch new iPads and MacBook Air. Check expected specs and pricing
Apple is preparing to launch several new models and upgrades for its Mac and iPads in a bid to reverse declining sales in this segment. Mac and iPad together account for almost 15% of Apple's revenue, but the decline in consumer spending on technology and the lack of new models from Apple has hit the sector hard.
According to a report by Bloomberg's Mark Gurnman, Apple is set to update its iPad Air, iPad Pro, and MacBook Air ranges, with the launch expected in March 2024. The report notes that Apple will also launch iPadOS 17.4 along with the new iPad series at the March launch event, while the macOS 14.3 update is expected to be released in January or February. Check prices here
Euro slips to 3-week low
The euro slipped to its lowest level in more than three weeks on Thursday, Reuters reported. Traders are increasingly wagering that the European Central Bank (ECB) will commence reducing rates from March 2024 onwards. Meanwhile, the dollar remained stable in anticipation of significant payroll data due this week.
The euro edged down by 0.07% to $1.0757, marking its lowest since Nov. 14. This week, the currency has declined by 1%, setting it on track for the most substantial weekly drop since May.
Traders are indicating an approximately 85% probability that the ECB will lower interest rates during the March meeting. They've already factored in nearly 150 basis points of easing by the end of the following year.
Wheat pauses after hitting four-month high on US sales to China
Chicago wheat futures remained steady on Thursday following a third significant purchase of U.S. wheat by China within three days, propelling prices to a four-month peak in the earlier session, Reuters reported. The prices of soybeans and corn dipped slightly after a decline on Wednesday, driven by forecasts of rain in Brazil, a key exporter, which alleviated worries about potential crop damage due to hot and dry weather.
The main wheat contract on the Chicago Board of Trade (CBOT) saw a marginal rise of 0.1%, standing at $6.33.3/4 per bushel by 0254 GMT, after hitting $6.49-1/2 on Wednesday, marking its highest level since August 9. Notably, wheat has surged by approximately 12.5% since the market opened on November 28.
In contrast, CBOT soybeans experienced a fractional decline of less than 0.1%, trading at $12.95 per bushel, while corn witnessed a 0.1% decrease, settling at $4.84 per bushel.
Oil languishes near five-month low
Oil prices have remained close to their lowest point in five months after a continuous five-day decline, indicating a surplus in global oil supplies compared to demand, Bloomberg reported. Despite OPEC's efforts to reduce production until 2024, prices have been affected negatively.
The global benchmark, Brent, slightly increased towards $75 per barrel after experiencing an 11% decrease, marking its longest losing streak since February. Meanwhile, West Texas Intermediate stayed below $70. US official data revealed a further increase in crude inventories at the Cushing hub, with oil production near its peak and a decline in gasoline demand. Market indicators suggest an abundance of oil shortly.
Hyundai cars in India to get costlier from January 2024
Hyundai Motor India has declared that the prices of its cars will rise commencing January 2024, ANI reported. The company cited escalating input expenses, an unfavourable exchange rate, and augmented commodity prices as the primary reasons for the increment. Despite this, Hyundai emphasised its commitment to mitigating future price impacts on consumers through internal measures.
Tarun Garg, the Chief Operating Officer of Hyundai Motor India, remarked, "At Hyundai Motor India, we consistently endeavour to absorb cost escalations and maintain ongoing customer satisfaction. Nevertheless, it has become necessary to transfer a portion of the mounting input costs to the market by slightly raising prices. This price adjustment will take effect from January 1st, 2024."
Global luxury brands knock at India gate
Global luxury brands spanning apparel, cosmetics, and accessories are gunning for the Indian market, at a time when malls dedicated to the uber-rich are sprouting across the country. According to multiple industry executives, a dozen luxury brands are close to opening their first India stores or looking to scale up their presence in the country.
Among these is Dolce & Gabbana of Italy, which plans to start its Indian journey with private appointments in December, to be followed by full-fledged stores in Delhi and Mumbai. Read more here
Google Bard, Pixel 8 Pro now come powered with new Gemini AI model. Here's what you should know
Google on Wednesday announced the company's most powerful language model yet - Gemini. Google said that Gemini beats OpenAI's GPT-4 language model and human experts on massive multitask language understanding (MMLU) tasks.
The Mountain View, California-based company also said that Gemini AI Nano, the more efficient version of the language model, will now be used to power on-device tasks on the Pixel 8 Pro. The Pixel 8 Pro will use the Gemini model to power new features such as offering a summary of recorded conversations and AI-powered replies to conversations. Check details here
Fuel price in metro cities on December 07, 2023 | Thursday
Fuel rates are revised at 06:00 A.M every day. Since June 2017, fuel prices in India have been revised daily, and this is called the dynamic fuel price method.
PETROL (Rs/L) - 101.94
DIESEL (Rs/L) - 87.94
PETROL (Rs/L) - 96.2
DIESEL (Rs/L) - 84.26
PETROL (Rs/L) - 102.63
DIESEL (Rs/L) - ₹94.33
PETROL (Rs/L) - 106.03
DIESEL (Rs/L) - ₹92.76
PETROL (Rs/L) - 106.31
DIESEL (Rs/L) - ₹94.27
PETROL (Rs/L) - 96.72
DIESEL (Rs/L) - ₹89.62
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