The CPI has slowed down to a 15-month low to 5.66% Says Mr. Nish Bhatt, Millwood Kane International
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Below is Perspective on CPI & IIP data by Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
“The CPI has slowed down to a 15-month low to 5.66%. This figure is below the RBI's target of keeping below the 6% mark. The data vindicates the RBI's estimate of inflation slowing down as we move ahead in the calendar year 2023. Food inflation, and vegetable prices slowing down helped the final figure in a big way. The core inflation too has fallen below the 6% mark
to 5.8% in the month of March. The figure will help the central bank stay on pause for the next few months.
The IIP data at 5.6% is a positive development. The manufacturing sector growth at 5.3% indicates the activity in the economy. From now on, the pace of inflation and a good monsoon year will guide the central bank's action.”
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