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Published on 14/07/2020 9:52:24 AM | Source: Emkay Global Financial Services Ltd

The rise in headline CPI was mainly due to increase in food inflation which has been rising by Mr. Rahul Gupta, Emkay Global

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Below is the Technical Quote On Rupee by Mr. Rahul Gupta, Head of Research- Currency, Emkay Global Financial Services

‘’India’s June CPI surged to 6.09% on year basis. After two months, the government has released headline inflation data. The rise in headline CPI was mainly due to increase in food inflation which has been rising. The inflation number is still above RBI’s upper band. The central bank’s rate cut decision will depend on growth more than inflation figure because growth is still a worry. Going ahead, as coronavirus led restrictions slightly recover and as supply crunch reduce we may see CPI falling below 6%.’’

 

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