Perspective on CPI Announcement By D.R.E Reddy, CRCL LLP
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Below is Perspective on CPI Announcement By DRE. Reddy, CEO and Managing Partner at CRCL LLP
‘The central bank had revised the inflation projection for FY23 in its monetary policy earlier in the month to 6.7% from 5.7% earlier. The CPI inflation has remained above the 6% level for 5 months since January. High food, vegetable, and edible oil kept the inflation upwards. Going forward, the elevated crude prices and favorable distribution of monsoon will help ease pressure on inflation.Commodity costs have been on the rise since the middle of 2021, leaving enterprises with no choice but to pass on the high price to end consumers. Policy outcome from the US Fed, inflation levels will guide the RBI policy going forward’.
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