April inflation eases to 4.7%, within RBI tolerance level of 6% for second month in a row Says Mr Anand Varadarajan, Asit C Mehta Financial Services
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Below View On CPI data by Mr Anand Varadarajan, Director, Acit C Mehta Financial Services Ltd
"April inflation eases to 4.7%, within RBI tolerance level of 6% for second month in a row. In March, the number was 5.6 %. The number was positively impacted by food and fuel prices as well as base effect.
The rural and urban inflation for the month were at 4.7% & 4.8% respectively. In the last few months, the economic growth was contributed only by the urban segment and rural consumption was not picking up. The softness in rural inflation and food and fuel segments augurs well for rural biased sectors and consumption sector companies.
In its recent policy meeting, the RBI kept the status quo for rates but clarified that the pause may not necessarily be a long lasting one. However, the recent trend of easing inflation should give comfort of RBI to let this pause stay for a while, which in turn should support equity markets" he said
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