This sharp rise can be attributed to higher food inflation of 11.51 percent Says Mr. Nish Bhatt, Millwood Kane International
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Perspective on on July CPI data By Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
"India's retail inflation rate surged to nearly a 15-month high of 7.44 per cent in July, breaching the upper limit of the Reserve Bank of India’s (RBI) tolerance band of 2-6 per cent. This is much higher than industry predictions of 6.4- 6.5 per cent.
This sharp rise can be attributed to higher food inflation of 11.51 percent, a cause of concern. We expect this inflation rate to be short-lived as the long-term fundamentals of the Indian market remain strong. We may likely see the rate start softening up in Q4, once we approach the election."
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