Morning Brief: Inflation To Fall; Clinton Diagnosed With Pneumonia; Govt To Fix Commodity Prices

Good News

According to HSBC Global Research, inflation in August likely cooled down to 5.1 percent over a year ago, lower than the 6.1 percent figure of July. Official government figures will come in a couple of days but the fall in inflation wasn’t entirely unexpected. Steep increase in food prices was driving the inflation but that is changing now thanks to good monsoon.

HSBC estimates that the trend in disinflation will continue in September and may come down below 5 percent. This should give the RBI enough room to cut rates in its next policy review.

Cauvery Issue

The Supreme Court will hear Karnataka state government’s plea today which has sought modification of the apex court’s 5 September order for the release of 15,000 cusecs of water for 10 days as immediate relief to Tamil Nadu farmers.

Siddaramaiah government will submit data on latest reservoir levels in the state and inflows in the Cauvery basin to the Supreme Court and to the supervisory committee. The government is hoping that there will be a reduction of the amount of water that the state has been directed to release to Tamil Nadu. Tamil Nadu has also filed its counter.

Fixing prices

In light of recent experiences of skyrocketing prices of pulses and huge difference between loose dal and those sold in packets, the Central government has modified the packaged commodities rules enabling state governments to fix retail prices of essential commodities.

Violation of packaged commodities rules can invite a fine of Rs 5,000 and detaining of the entire stock. Once the governments notify the retail prices, retailers won’t be able to sell essential commodities such as pulses, sugar, milk and edible oils at higher prices in the guise of selling such items in packets.

Unwell Hillary

Democratic Presidential candidate Hillary Clinton left 9/11 ceremony held at ground zero in New York early on Sunday. Her campaign said she was “over exhausted” and feeling “overheated”. But the 9/11 ceremony was the only thing on her schedule yesterday.

A video surfaced soon after which showed her collapsing while trying to enter the limo with secret service agents holding her. Clinton’s doctor released a statement saying she has been diagnosed with pneumonia. Doctor has advised her to take rest and modify her schedule.

The presidential campaign has entered into the slog overs phase where candidates usually up the ante and campaign aggressively. Taking breaks is nothing short of surrendering the campaign to your opponent. Though Clinton still remains the favourite to win the race, concerns about her health and her inability to campaign effectively might cost her the election.

US Open

Switzerland’s Stan Wawrinka defeated world number one Novak Djokovic, clinching his first US Open and third Grand Slam title. Wawrinka, rank third, won the game 6-7 (1-7) 6-4 7-5 6-3. He has now won all three Grand Slam finals he has played.

Yesterday, he became the oldest winner at Flushing Meadows since 35-year-old Ken Rosewall in 1970.

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We hope you enjoyed reading our morning brief. Have a great day ahead!

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