Perspective on CPI & IIP Data by Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
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Below the Perspective on CPI & IIP Data by Mr. Nish Bhatt, Founder & CEO, Millwood Kane International
"April's CPI inflation decreased slightly from 4.85% in March to 4.83%, eighth straight month that inflation remained within the RBI’s tolerance band of 2 percentage points within 4%. Urban inflation was recorded at 4.11%, while rural inflation was reported at 5.43%. Food and beverage prices held steady at 7.87 percent, slightly higher than 7.68 percent a month earlier, while food inflation increased marginally to 8.70 percent in April from 8.52 percent the previous month, mostly as a result of rising costs for meat and fruit. These factors together limited the headline retail inflation rate's marginal decline in April. Conversely, the prices of vegetables, dairy products, and pulses indicated a deflationary trend.
CPI numbers suggest that the central bank would maintain rates in the next policy. Though, it is necessary to keep an eye on food inflation and rural consumption."
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