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Narendra Modi-led India fared better than all other major economies in post-Covid recovery with the lowest inflation rate, a study for the period between December 2020 and March 2024 has shown, helping the country's global image as well as the BJP in ongoing general elections.
United States central bankers are confronting the hottest inflation since 1982.
Surging inflation has spurred some United State central bankers to revise up their outlook for rate increases this year.
Goldman Sachs Group Inc.’s economists now expect the Federal Reserve to raise interest rates seven times this year to contain surging U.S. inflation, a change from the five hikes they had seen earlier.
Gold prices were slightly scarred this past week, leaving XAU/USD at risk to a beat in US inflation data next. However, follow-through may have to wait until the Fed rate decision.