Slower Decline for IDEX Polished Price Index in August
September 08, 25
Overall the decline was notably more modest than in July, when the Index fell by 3.26 per cent.
August saw prices rise steeply on the 4th and 5th of the month, in the days before reciprocal tariffs (25 per cent on Indian goods) came into force on the 7th.
They then levelled for a few days and fell back more or less to their pre-spike levels. From then on, there was a gradual decrease until the end of the month.
It's not the first time we've seen a surge and plunge like this in recent months. The Index spiked at the end of June, ahead of the 9th July deadline for US trading partners to negotiate a trade deal to avoid tariffs.
It also spiked, though less sharply, after President Donald Trump's initial tariff announcement in early April.
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