Food prices steady, but is there a secret behind that?

Food More than two weeks after confiscatory demonetisation sucked cash out from the economy, the food market has remained by and large steady, rather deceptively so. This held true at small retailers and vegetable shops in the cities and towns that Express checked out. There are small differences, but all marginal. The perishable commodities – tomato was a common casualty – did witness a downturn, but mostly due to stock clearance sale in the evenings. But the figures may not tell the full story. This is not stability, insist traders,…

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Brexit masala: Condiments turn costlier in UK, drive up food prices

he June 23 Brexit vote and the falling value of pound have severely hit Indian restaurants and Indian food manufacturers in UK who import spices and other ingredients from abroad, forcing them to raise prices in the 4 billion-pound “curry industry”. Already hit by the inability to recruit chefs from the Indian subcontinent due to tough visa restrictions, the falling pound has come as a “double whammy”, restaurant owners and food manufacturers told Hindustan Times on Friday. There is growing despair among restaurant owners over the fact that promises made…

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World food prices edge up in October: FAO

World food prices edged up in October to continue an upward trend since January, the United Nations food agency said on Thursday, adding that prospects for global cereal output had improved. Barring a slight dip in July, the Food and Agriculture Organization’s (FAO) food price index has steadily increased from a seven-year low hit in the first month of this year. The index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, averaged 172.6 points in October, 0.7 percent above the month before and…

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Apple Slashes iPhone 6s, 6s Plus Prices By Rs.22,000

NEW DELHI: Apple has slashed the prices of its smartphones by as much as Rs.22,000, with the Apple iPhone 6s (128GB) seeing its price tag drop from a maximum retail price (MRP) of Rs.82,000 to Rs.60,000, reported the Times of India on Thursday. The move comes even as the company said on Wednesday that the initial quantities of the iPhone 7 Plus have sold out globally as it prepares to roll out its new gadget in stores. Supplies of the larger size of Apple’s new phone have been exhausted in…

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Producer prices flat in August with food costs falling

WASHINGTON — U.S. producer prices were unchanged last month as the biggest decline in wholesale food costs in more than three years helped to keep a lid on inflation. The Labor Department says its producer price index, which measures cost pressures before they reach the consumer, was flat in August after a 0.4 percent decline in July which was the biggest drop in 10 months. Food prices at the wholesale level fell 1.6 percent in August, the largest drop since a similar decline in April 2013. Core inflation, which excludes the…

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Food, Gas Keep Producer Prices Unchanged

Prices paid by U.S. businesses for goods and services were unchanged in August as food and gas prices continue to keep inflation on the low side. The unchanged reading in the Labor Department’s producer price index was up from July’s decline of 0.2%. Economists surveyed by The Wall Street Journal had forecast a 0.1% increase. In August, the wholesale cost of food tumbled 1.6%, the biggest drop in almost three-and-a-half years. Gasoline prices slid 2.5%. Excluding food and energy, prices rose 0.1% last month and, excluding food, energy and trade…

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Supply factors pull oil prices lower early Friday

The prospects of growing supplies of oil on the market offset the latest OPEC chatter on rebalancing efforts to push oil prices lower in early Friday trading. Oil drifted around in volatile trading Thursday as key economic indicators bounced off underlying questions about the gap between oil supplies and global demand. Libya and Nigeria, two struggling members of the Organization of Petroleum Exporting Countries, are showing signs of recovery at a time when there are indications that global economic growth is slowing down. The price for Brent crude oil was…

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