India’s statistics ministry has updated the Consumer Price Index (CPI) base year to 2024 from 2012, reflecting evolving household consumption patterns. The revised index includes more items, expanded price collection, and incorporates online market data, aiming for a more accurate measure of inflation for monetary policy.
Chicago Fed President Goolsbee rejects calls for Fed rate cuts to ease US debt burden
Chicago Fed President Austan Goolsbee rejected calls for interest-rate cuts to ease the US government’s debt burden, warning that such a move could fuel inflation