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Stock benchmarks in Tokyo and Sydney retreated after the S&P 500 slipped following its biggest five-day advance in a year. The Bloomberg Dollar Spot Index extended its post-election rally, while the yen closed in on the closely watched level of 155.
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News and Media
India's retail inflation unexpectedly jumped to a 14-month high of 6.2% in October, driven by soaring vegetable, fruit, and edible oil prices. This surge breaches the central bank's target range and delays the possibility of interest rate cuts. Economists predict inflation will remain elevated for a few months before gradually easing towards the Reserve Bank of India's target rate.
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During the quarter, raw material costs for the company were up by 7.8% from a year ago, driven by high inflation in the cost of wheat, palm oil, cocoa and sugar. The input cost as a proportion of revenue rose to 59.8% of sales compared with 57.9% a year ago. This directly impacted profitability, as the operating profit margin dropped by 280 basis points (bps) to 15.5%.
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News and Media
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