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Published on 14/08/2020 8:56:32 AM | Source: Emkay Global Financial Services Ltd

Quote on CPI numbers by Rahul Gupta, Emkay Global Financial Services

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Below is the Quote on CPI numbers by Mr. Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services

’The July inflation surged by 6.93% from 6.09% in June. The CPI has come much higher than the market expectations; Reuters poll was of 6.18%. The CPI remains above RBI’s target range mainly due to uptick in food inflation. Despite the nationwide lockdown is easing, the food inflation still remains a concern as regional lockdown still persists. Eventually, with better monsoon and further easing of lockdown, we can expect inflation to come under RBI’s target range. But until the CPI hovers above 6%, RBI will remain hesitant on cutting repo rate.’’

 

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