Perspective on CPI & WPI data by Mr. Nikhil Gupta, Motilal Oswal Financial Services Ltd
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Below are Perspective on CPI & WPI data by Mr. Nikhil Gupta, Chief Economist at Motilal Oswal Financial Services Ltd.
“May'21 CPI headline/core inflation a shocker at 6.3%
Headline CPI-inflation surged to 6.3% YoY in May'21, up from 4.2% a month ago and much higher than the Bloomberg consensus of 5.4%.
Core inflation rose from 5.1% in Apr'21 to 82-month high of 6.3% in May'21. Food inflation also increased to 5%.
Early in the morning, WPI-inflation came in at 25-year high of 12.9% YoY in May'21 but lower than the market consensus of 13.4%.
Overall, the broad-based higher-than-expected rise in inflation is concerning. *Though it is unlikely to result in any monetary tightening, it rules out any further easing also.”
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