In the first five months of FY24, imports in value terms were up 70% for avocado from a year earlier, while more than doubling in case of shelled almonds, and growing 80% and 62% for pistachio and olives, respectively. Imports of cereals such as buckwheat and millets have also grown sharply, albeit on a smaller base.
Fed Governor Michael Barr signals more rate hikes needed to tame inflation
Federal Reserve Governor Michael Barr announced that additional rate hikes may be necessary to manage inflation. He indicated that while economic growth is strong, inflation