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Below is the Views on CPI Numbers by Mr. Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services.
“As expected India’s Mar CPI dropped to 5.91% vs 6.6% in Feb. There has been a drop in food and vegetable prices which had led inflation figure to fall below the upper band of RBI’s target. Due to the lockdown, growth in both input costs and prices charged have weakened in March, suggesting retail inflation could slow further and give the RBI more scope to cut interest rates further or taken unconventional measures.”
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