The Reserve Bank of India (RBI) expects retail inflation to come under control at 5.2 per cent in the next financial year beginning April. The central bank is mandated to keep retail inflation in a range of 2-6 per cent. Both the countries are key suppliers of foodgrains, edible oil, fertilisers and energy resources such as crude oil and natural gas.
The Reserve Bank is expected to increase the repo-rate or the short-term lending rates by 50 basis points in a bid to tame inflationary pressure. India's trade deficit more than doubled to USD 27.98 billion in August due to increased crude oil imports. Import of 'petroleum, crude & products' stood at USD 17.7 billion in August this year, an annual increase of 87.44 per cent.
RBI will take appropriate steps to keep inflation in a range, Sanjeev Sanyal, Member of the Economic Advisory Council to the Prime Minister. Sanyal pointed out that in several countries inflation is much higher. Finance Minister last week said inflation management can`t be singularly left to monetary policy.
Sony is increasing the price of Play Station 5 (PS5) in select markets due to the global economic environment. The new recommended retail price (RRP) is coming in select markets, including Asia-Pacific (APAC). The PS5 was launched in India for Rs 39,990 for the Digital Edition and Rs 49,990 for the Blu-ray version.