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Business News/ Economy / Cost of Living Highlights Updates Jan 15: Gold prices steady at 6,397.0 per gram for 24-carat
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Cost of Living Highlights Updates Jan 15: Gold prices steady at ₹6,397.0 per gram for 24-carat

Cost of Living Highlights Updates Jan 15: The high rate of inflation has pushed up the cost of living across the globe, burning a hole in the common man's pocket. In some relief, India's retail inflation witnessed a notable decline in September, dropping to a three-month low.

The gold April 2024 MCX futures were trading at ₹62,933/10 gm (File Image)Premium
The gold April 2024 MCX futures were trading at 62,933/10 gm (File Image)

Cost of Living Highlights Updates January 15: 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.

India's retail inflation hit a 4-month high of 5.69% in December 2023, according to the data released by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) informed on Friday. The CPI inflation surged from 5.5% in November and continues to remain close to the Reserve Bank of India's (RBI) tolerance range of 2-6%.

In December, the Wholesale Price Index (WPI)-based inflation increased by 0.73 per cent, primarily attributed to a significant surge in food prices. The WPI inflation had been in the negative zone from April to October but turned positive in November at 0.26 percent. The Commerce and Industry Ministry, in a statement on January 15, explained that the positive inflation rate in December 2023 is mainly driven by higher prices of food articles, machinery & equipment, other manufacturing, other transport equipment, and computer, electronics & optical products, among others, according to PTI.

15 Jan 2024, 06:35:54 PM IST

47% of female Indian earners in metros take independent financial decisions: survey

Indian women’s financial autonomy is growing as about 47% of female earners in the metros make independent financial decisions, said a survey by DBS Bank India and CRISIL.

“Whether it's charting out their children's educational paths or balancing multiple, competing financial goals, women are not bystanders, but are at the helm, shaping the future of their families. An encouraging 98% of salaried and self-employed Indian women actively participate in long-term family decision making," said the DBS Bank-CRISIL survey in a statement.

Age and affluence play a pivotal role in shaping these decisions, it added.

“Women over 45 years old, with their wealth of experience, emerge as the leaders, with 65% making independent financial choices compared to 41% of those aged 25-35 years," the survey said.

“Across India, a woman’s primary long-term financial priority evolves with age. Buying/upgrading a home is priority number one for those between 25-35 years, while it evolves to children’s education for those in the 35-45 year category and to medical care for those above 45 years of age," it added.

15 Jan 2024, 06:06:05 PM IST

Mint Explainer: Unruly passengers on flights and how authorities handle them

The civil aviation industry has been a witness to regular incidents of misconduct by both passengers and airline staff over the past decade. With air travel growing by over 140% since 2013 to more than 150 million air passengers in 2023, these incidents have become increasingly frequent. Misconduct among passengers ranges from minor issues like dissatisfaction with cold food to requests for remaining seated. Read more here

15 Jan 2024, 04:22:34 PM IST

Amazon Republic Day Sale: Upto 52% discount on dash cams, our top 5 picks

In an era where road safety is crucial, investing in a good dash cam is a smart decision for every car driver. Dash cams record every move of your car, providing a sense of security. With a large array of dash cams available in the market, each with a multitude of specifics and features, selecting the perfect product is a daunting task. Premium dash cameras can be expensive, which is why we've selected five of the best dash cams to buy during the Amazon Republic Day Sale. Read more here

15 Jan 2024, 03:17:57 PM IST

THIS Indian city has most number of private cars, and it's not Delhi!

Delhi is no longer the city with the most number of private cars as per Delhi Statistical Handbook 2023.

According to the Karnataka Transport Department, Bengaluru has surpassed Delhi, having 22.3 lakh private cars as of March 31, 2023-a 7.1% increase since March 31, 2021. Read more here

15 Jan 2024, 02:26:05 PM IST

Check the latest Silver rates in your city

Silver Prices in your city on Monday, January 15, 2024, are as follows:

- Chennai has a silver price of 78,000/kg.

- Delhi has a silver price of 76,500/kg.

- Mumbai has a silver price of 76,500/kg

- Kolkata has a silver price of 76,500/kg

15 Jan 2024, 02:12:15 PM IST

Check the latest Gold rates in your city

Gold prices remained steady on Monday, January 15, 2024, they are as follows:

- Chennai has a gold price of 64,530/10 gm

- Delhi has a gold price of 63,970/10 gm

- Mumbai has a gold price of 63,820/10 gm

- Kolkata has a gold price of 63,820/10 gm

15 Jan 2024, 01:49:01 PM IST

Silver prices on 15-01-2024: Silver up by ₹500/kg

The cost of silver is 76,500 per kg, up by 500 per kg.

The Silver March 2024 MCX futures were trading at 72,706 per kg, up by 0.312 percent at the time of publishing.

15 Jan 2024, 01:31:10 PM IST

Gold prices on 15-01-2024: Gold prices steady at ₹6,397.0 per gram

The cost of 24-carat gold is 6,397.0 per gm.

The cost of 22-carat gold is 5,865.0 per gm.

The price change in 24-carat gold in the last week has been 0 percent whereas, in the last month, it has been -1.28 percent.

The gold April 2024 MCX futures were trading at 62,933 per 10 gm, up by 0.272 percent at the time of publishing. Check here

15 Jan 2024, 01:18:23 PM IST

‘India World’s Fastest Growing Economy’, To Grow At 6.2%: UN Report

Indian economy continues to be the cynosure of all eyes. India's GDP growth prospects are hogging the limelight once again after the UN’s Department of Economic and social affairs in its recent report said that India will continue to be the fastest-growing major economy in the world. The report titled ‘World Economic Situation and Prospects 2024’ goes on to say that India’s GDP growth is projected to hit 6.2% in 2024. Watch Details here

15 Jan 2024, 01:06:17 PM IST

What's driving up housing prices in India?

Robust demand, high construction costs and lower fresh supply have driven the price of residential real estate. It has impacted affordable housing. An Ipsos survey last year found that 65 percent of urban Indians without homes fear they may never afford one. Check here

15 Jan 2024, 12:51:44 PM IST

Wholesale inflation rises to 0.73% in December

In December, the Wholesale Price Index (WPI)-based inflation increased by 0.73 per cent, primarily attributed to a significant surge in food prices. The WPI inflation had been in the negative zone from April to October but turned positive in November at 0.26 per cent.

The Commerce and Industry Ministry, in a statement on January 15, explained that the positive inflation rate in December 2023 is mainly driven by higher prices of food articles, machinery & equipment, other manufacturing, other transport equipment, and computer, electronics & optical products, among others, according to PTI.

"Positive rate of inflation in December 2023 is primarily due to increasing in prices of food articles, machinery & equipment, other manufacturing, other transport equipment, and computer, electronics & optical products, etc," the commerce and industry ministry said in a statement on January 15.

Meanwhile, during the same period, food inflation increased to 9.38 per cent, up from 8.18% in November 2023. Read here

15 Jan 2024, 12:44:46 PM IST

Centre may raise national minimum wage ahead of Lok Sabha elections, panel recommendations awaited

A mandatory national minimum wage hike could be on the horizon as the central government considers adopting the suggestions of a high-level expert panel. Officials anticipate that the recommended floor wage, set by an expert committee led by SP Mukherjee since 2021, might be enforced before the upcoming general elections scheduled for April-May this year.

With approximately 500 million workers, 90 percent of whom are in the unorganised sector, the current floor wage stands at 176 per day, last revised in 2017. This rate is not statutorily binding for states. Officials argue that an overdue revision is necessary to account for the rising cost of living and inflation.

In 2019, a committee led by Anoop Satpathy suggested a floor wage of 375 per day, a proposal rejected by the government due to substantial financial implications for employers. Stakeholders are hopeful that the current committee will strike a balance between the existing 176 per day and the previous 375 per day recommendation. Read full here

15 Jan 2024, 12:26:14 PM IST

Centre to offload 300,000 tn wheat for subsidised atta sale

Food Corporation of India (FCI) will allocate 300,000 tonnes of wheat to three government agencies in January, which will convert the grain into flour and sell it to consumers at a subsidised rate under the Bharat Atta brand to battle inflation, Union Food Secretary Sanjeev Chopra said.

Atta (wheat flour) prices remain firm despite the government’s intervention at the retail level. The all-India average retail price of atta has increased to 36.5 a kg, according to data from the Consumer Affairs Ministry.

India’s retail inflation accelerated to a 4-month high of 5.69% in December, driven by an uptick in food prices. Chopra said that the government aims to bring down prices in regions where the rates are higher than average. Read details here

15 Jan 2024, 12:12:24 PM IST

Egg prices soar to 400 PKR in Lahore amid failure to impose government rates

The cost of eggs has surged to 400 Pakistani Rupees (PKR) per dozen in Lahore, Punjab in neighbouring Pakistan, according to market sources reported by ARY News on January 15.

The report noted that local authorities are facing challenges in implementing government rate lists as prices for various commodities continue to skyrocket. Onions, for instance, are being sold at 230 to 250 PKR per kg, exceeding the government-fixed rate of PKR 175 per kg.

In Lahore, the price per dozen eggs has reached PKR 400, while chicken is sold at PKR 615 per kg, as highlighted in the ARY News report. Read more here

15 Jan 2024, 11:51:59 AM IST

India's retail inflation surges to 5.69% in December 2023

India's retail inflation hit a 4-month high of 5.69% in December 2023, according to the data released by the National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) informed on Friday. The CPI inflation surged from 5.5% in November and continues to remain close to the Reserve Bank of India's (RBI) tolerance range of 2-6%.

15 Jan 2024, 11:34:46 AM IST

Fuel price in metro cities on January 15, 2024 | Kolkata and Ghaziabad

Fuel price in metro cities on January 15, 2024 | Kolkata

PETROL (Rs/L) - 106.03

DIESEL (Rs/L) - 92.76

Fuel price in metro cities on January 15, 2024 | Ghaziabad

PETROL (Rs/L) - 96.58

DIESEL (Rs/L) - 89.75

15 Jan 2024, 11:12:34 AM IST

Fuel price in metro cities on January 15, 2024 | Chandigarh and Chennai

Fuel price in metro cities on January 15, 2024 | Chandigarh

PETROL (Rs/L) - 96.2

DIESEL (Rs/L) - 84.26

Fuel price in metro cities on January 15, 2024 | Chennai

PETROL (Rs/L) - 102.63

DIESEL (Rs/L) - 94.33

15 Jan 2024, 11:01:41 AM IST

Fuel price in metro cities on January 15, 2024 | Lucknow and Hyderabad

Fuel price in metro cities on January 15, 2024 | Lucknow

PETROL (Rs/L) - 96.57

DIESEL (Rs/L) - 89.76

Fuel price in metro cities on January 15, 2024 | Hyderabad

PETROL (Rs/L) - 109.66

DIESEL (Rs/L) - 97.82

15 Jan 2024, 10:46:40 AM IST

Fuel price in metro cities on January 15, 2024 | Gurugram and Noida

Fuel price in metro cities on January 15, 2024 | Gurugram

PETROL (Rs/L) - 96.84

DIESEL (Rs/L) - 89.72

Fuel price in metro cities on January 15, 2024 | Noida (Gautam Buddha Nagar)

PETROL (Rs/L) - 96.59

DIESEL (Rs/L) - 89.96

15 Jan 2024, 10:39:05 AM IST

Fuel price in metro cities on January 15, 2024 | Mumbai, Bengaluru and New Delhi

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.

Fuel price in metro cities on January 15, 2024 | Mumbai City

PETROL (Rs/L) - 106.31

DIESEL (Rs/L) - 94.27

Fuel price in metro cities on January 15, 2024 | Bengaluru

PETROL (Rs/L) - 101.94

DIESEL (Rs/L) - 87.94

Fuel price in metro cities on January 15, 2024 | New Delhi

PETROL (Rs/L) - 96.72

DIESEL (Rs/L) - 89.62

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