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Business News/ Economy / Cost of Living Updates Nov 15: Fuel prices steady. Check petrol and diesel prices in your city today
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Cost of Living Updates Nov 15: Fuel prices steady. Check petrol and diesel prices in your city today

Cost of Living LIVE Updates Nov 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.

File image of a petrol pump (AFP)Premium
File image of a petrol pump (AFP)

Cost of Living LIVE Updates Nov 15: The cost of living is basically 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.

15 Nov 2023, 02:25:25 PM IST

October Trade Data: Trade deficit up 18% YoY at $31.46 billion from $26.3 billion

India's merchandise trade deficit for October 2023 is up 18 percent year-on-year (YoY) at $31.46 billion from $26.3 billion in October 2022, government data released on November 15 showed.

Further, exports are up 6 percent YoY to $33.57 billion from $31.60 billion; and imports have risen 11 percent YoY to $65.03 billion from $57.91 billion.

On a month-on-month (MoM) basis, exports were at $34.47 billion in September 2023, and imports were at $53.84 billion, indicating a decline in both categories. Find more here

15 Nov 2023, 01:39:10 PM IST

India's growth story is based on economic strength, not BJP winning elections

Brokerage house Morgan Stanley has said that it expects heightened volatility in India's stock market after poll results are declared in December for five states, "especially if the BJP loses a majority of those states". Volatility, the report suggests, could shoot up again after that if in the 2024 general elections the opposition alliance, called I.N.D.I.A.. succeeds in polarizing voters, thus reducing the predictability of the outcome in May next year".

Similar commentary earlier on Indian elections was debunked in 2014 by economists, led by Prof. Maitreesh Ghatak of the London School of Economics.

Domestic investors, now more influential than their foreign counterparts, are drawn by the robust India Growth Story, not political partiality. Read full opinion here

15 Nov 2023, 12:57:59 PM IST

State Bank of India announces new MCLR. Check latest rates 

State Bank of India, the country’s largest lender, revised its marginal cost of funds-based lending rate (MCLR). These rates are with effect from today, November 15.

The overnight, one-month, three-month, and Six Month MCLRs are 8 percent, 8.15 percent, and 8.45 percent, respectively.

One-year MCLR stands at 8.55%, while two-year MCLR is 8.65, and three-year MCLR stands at 8.75% Full details here

15 Nov 2023, 11:23:55 AM IST

The fine print of October inflation data, in three charts

India's retail inflation is on a downward trajectory, with the print falling to a four-month low of 4.87% in October from the most recent high of 7.44% in July: However, there is little reason to cheer as price pressures have Increased for the first time in three months. On a month-on-month basis, the Consumer Price Index (CPI) increased by 0.65%, after having declined 0.05% in August and 1.13% in September. This shows that prices were firmer in October compared to the previous month. More worryingly, the major sequential rise came from the food segment, the index for which rose 1.06% Including a substantial 3.38% rise in vegetables) after two months of decline.

The played price pressures and base effect in the coming months could keep the monetary policy committee's trajectory towards the medium form of 4% economists said. Read more

15 Nov 2023, 10:30:35 AM IST

Inflation has dipped but another upsurge looms

October's inflation prints will offer Indian policymakers some relief. But, erratic monsoon rains and crude oil risks from the war in West Asia make it harder to cap the rise in our cost of living, but RBI must meet its 4 percent target. Read full here

15 Nov 2023, 09:21:58 AM IST

Fuel price in metro cities on Nov 15, 2023 | Wednesday

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.

Bangalore

PETROL (Rs/L) - 101.94

DIESEL (Rs/L) - 87.94

Chandigarh

PETROL (Rs/L) - 96.2

DIESEL (Rs/L) - 84.26

Chennai

PETROL (Rs/L) - 102.63

DIESEL (Rs/L) - 94.33

Kolkata

PETROL (Rs/L) - 106.03

DIESEL (Rs/L) - 92.76

Mumbai City

PETROL (Rs/L) - 106.31

DIESEL (Rs/L) - 94.27

New Delhi

PETROL (Rs/L) - 96.72

DIESEL (Rs/L) - 89.62

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