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CPI And IIP Data : The retail inflation for the month of June has clocked in at 7.01% Says Mr. Nish Bhatt, Millwood Kane International
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Perspective on CPI And IIP Data By Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
“ The retail inflation for the month of June has clocked in at 7.01%. It is softening albeit at a slower pace over the past three months. However, it still 3 straight months of inflation remaining above 7% and six straight months of inflation above the RBI's aim of 6%. The slight softening in inflation data is largely on account of a reduction in duties on fuel. We expect the inflation prices to harden going forward as high prices of crude and the impact of monsoon are factored in fully.
It is encouraging to see industrial production rising over the past few months, but most of it is due to the lower base of last year when the country was witnessing the second wave of the pandemic. The frequency indicators, like higher tractor sales, and CV in rural areas indicate a pick-up in demand. We expect the industrial production activity to continue on its upward trend.”
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