The CPI inflation at 4.7% is a big positive 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 inflation at 4.7% is a big positive. After rising to levels of 6% and 7% for months, we finally witnessed a softness in retail inflation. We see a trend of softness in inflation with it being at 5% for March month and below the 5% mark for April. This was primarily due to a higher base and softness in food and core inflation.
On the other hand, the industrial production slowing down is a cause of concern. The IIP stood way below the street expectation at 1.1%, electricity demand dipping is a big negative, especially in the summer months.
Going forward, a steady price trajectory of crude oil and a good monsoon year will help keep inflation in check. This is the last inflation print before the MPC meets for its review meet in June. The development will help the central bank to stay on an extended pause.”
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