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CPI And IIP Data : There are positive developments on both the CPI and the IIP front 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
“ There are positive developments on both the CPI and the IIP front. The CPI inflation has been on a declining path for the past four months. This softness in the inflation is largely due to the duty cut on edible oil, fall in crude oil, and commodity prices. The inflation though on a downward spiral, but it is still above the MPC mandated level for 7-straight months.
The IIP for the month of June has risen at a steady pace helped by the mining, manufacturing, and cap goods segment. Though the current economic matrix looks encouraging, the RBI will certainly wait for another month of data to decide on its next steps. The RBI's FY23 inflation forecast is 6.4%, indicating some more rate hikes by the RBI in the remaining part of FY23.”
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