CPI breached the upper tolerance band of RBI again at 6.52% higher than the market expectations Says Raghvendra Nath, Ladderup Wealth Management
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Below Reaction on CPI data By Mr. Raghvendra Nath, Managing Director – Ladderup Wealth Management Private Limited
“CPI breached the upper tolerance band of RBI again at 6.52% higher than the market expectations of 6.1%. Costly food items and rise in oil prices pushed the inflation upwards. India’s dependence on oil imports continues to affect India’s inflation. We may see further rate hikes from RBI if the inflation figures continue to stay above the upper band. This will dampen the mood of the street as it was expecting inflation to cool off in line with RBI's expectations (5.7% for Jan-Mar'23).”
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