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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 CPI breached RBI’s medium term upper band of 6%. The double digit food inflation is the main cause of Dec retail inflation surging to 7.35% from 5.54% in Nov. If oil and vegetable prices continue to remain high then inflation will hover near 6%. Taking cognisance of the rising retail inflation, RBI may regard to maintain a status quo even at February policy and wait for the benefit of previous rate cuts pass through fully”.
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