CPI inflation eases to 5.66% in March 2023 from 6.44% in February 2023 Says Mr. Raghvendra Nath, Ladderup Wealth Management
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Below Perspective on CPI data By Mr. Raghvendra Nath, Managing Director – Ladderup Wealth Management Private Limited
CPI inflation eases to 5.66% in March 2023 from 6.44% in February 2023 and 6.95% in March 2022. It is now below 6% the upper end of the target range set by RBI. The primary reason for the ease in inflation was higher base of last year. Rural inflation eased to 5.51% from 6.72% in Feb, whereas Urban inflation also eased but at a slower pace to 5.89% in March. Consumer Food price inflation eased to 4.79% from 5.95% in Feb and 7.68% in March 2022. Inflation is expected to stay within RBI’s band as Rabi crop production has been good enough despite unusual rains and extreme heatwaves. This data should aid RBI’s decision to pause the rate hike.”
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