The Consumer Price Index (CPI) based retail inflation declined to a five-year low of 3.54 per cent in July 2024 mainly on account of subdued prices of food items, and base effect. It was 5.08 per cent in June 2024 and 7.44 per cent in July 2023. Retail inflation slipped below the median target of 4 per cent of the Reserve Bank of India (RBI) for the first time since September 2019 when it was at 3.99 per cent. The government has tasked the RBI to ensure inflation remains at 4 per cent with a margin of 2 per cent on either side. Inflation has remained below 6 per cent since September 2023.
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) in its data has showed that Rural CPI (General) in July 2024 stood at 4.10 per cent over 5.66 per cent in June 2024. The Urban CPI (General) stood at 2.98 per cent in July as against 4.39 per cent in June. The index value for Rural, Urban and Combined CPI (General) stood at 195.3, 190.2 and 192.9 respectively, in July 2024. The price data are collected from selected 1114 urban Markets and 1181 villages covering all States/UTs through personal visits by field staff of Field Operations Division of NSO, MoSPI on a weekly roster. During the month of July 2024, NSO collected prices from 100% villages and 98.5% urban markets while the market-wise prices reported therein were 88.71% for rural and 92.64% for urban.
According to the data, the CPI Inflation in the food basket was 5.42 per cent in July, down from 9.36 per cent in June, and 11.51 a year ago. The inflation rate for vegetables stood at 6.83 per cent in July, against June’s rate of 29.32 per cent. For cereals and pulses, which constitute a significant portion of India's staple diet, the prices quickened 8.14 per cent and 14.77 per cent respectively. The fuel and light prices contracted 5.48 per cent in July, against a contraction of 3.66 per cent in June. The annual inflation in ‘milk and milk products’ was 2.99 per cent, ‘oils and fats’ (-) 1.17, fruits 3.84 per cent, and spices (-) 1.43 per cent.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Limited to the first 10 users today!
Practical Stock Investing Hand Book
By - Raymond Moses
Founder of MoneyWorks4Me | Consultant | Trainer | Author | TEDx Speaker
Register & Get Instant Access!Don't miss out! First 10 users today get it FREE
With this 4 hrs Masterclass, you’ll be able to:
Download APP
