Published on 13/10/2022 9:44:16 AM | Source: Knight Frank
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel https://t.me/InvestmentGuruIndiacom
Download Telegram App before Joining the Channel
Below Perspective on IIP and CPI 13 October 2022 By Mr. Vivek Rathi, Director-Research, Knight Frank India
"At 7.41%, consumer inflation in the economy continues to remain defiant due to increasing food prices. The future trajectory of inflation is on the upside, pressurized by import inflation arising from sharp rupee depreciation. Price pressure on import of crude oil shall have a cascading impact on other items of the basket too. Additionally factors such as transmission of input costs and pick-up in consumer demand supported by service sector recovery would further add to inflationary risk in the coming months. With the inflation level consistently remaining ahead of the 4% CPI target level of the RBI, an out of turn monetary policy rate action remains a possibility.
The degrowth in industrial production in August was primarily due to high base and softening in consumer durable and non-durable segments. However, except for a few deterrents due to seasonal factors, the industrial production in the economy would continue to expand in the coming months supported by revival in consumer demand, government’s capex push, and improved capacity utilization. Robust credit growth and strong domestic demand at the current juncture holds promise for better numbers in near future.”
Above views are of the author and not of the website kindly read disclaimer
Bajaj Allianz Life Insurance launches Sustainable Equity Fund
Vedanta appoints chip industry veteran David Reed as CEO of new biz
Growth for Indian IT services industry likely to slow down: ICRA
Market Quote : RBI`s policy announcement on Wednesday will provide more colour on its future rate actions Says Vinod Nair, Geojit Financial Services