Perspective on October CPI data - Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
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Below is Perspective on October CPI data by Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
The October CPI inflation has cooled down to a 3-month low. After two months of above 7% inflation, the CPI is finally below the 7% mark but still stays above the RBI's mandate of 6%. The core inflation too remains sticky at 6%. The WPI data released earlier today showed a fall below the 10% mark. This is in line with the central bank guidance for the CPI data.
The effects of lower crude and food prices have started reflecting in vegetable and food price inflation. This will be the last inflation data point before the RBI meets next month to decide on its monetary policy. This will likely have some positive impact on the event. Inflation cooling off broadly indicates the RBI halting its rate hike cycle, with a long pause.
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This sharp rise can be attributed to higher food inflation of 11.51 percent Says Mr. Nish Bh...
