Quote on CPI inflation : CPI inflation is likely to further move up to around 5.3% in July By Dr. V K Vijayakumar,Geojit Financial Services
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Below The Quote On CPI inflation from Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
CPI inflation spiking to 4.81 % in June from 4.31% in May didn’t come as a surprise since the spurt in vegetable prices was known and the market expected a CPI inflation print above 4.7 %. CPI inflation is likely to further move up to around 5.3% in July. This also is known to the market and, therefore, is unlikely to impact the market. Since the CPI inflation is driven by food and vegetable prices, the MPC is unlikely to alter the rates in the coming policy meeting; but will sound more hawkish.
From the market perspective, the market has given more importance to the IIP numbers which have come at an impressive 5.2% in May, indicating that the growth momentum in the economy is strong.
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