Perspective on CPI & IIP data By Mr. Nish Bhatt, Millwood Kane International
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Below The Perspective on CPI & IIP data By Mr. Nish Bhatt, Founder & CEO, of Millwood Kane International
"India’s industrial output, based on IIP, growth stood at a 16-month high of 11.7%. Its retail inflation in November came out to be 5.55%, as against 4.87% in October, primarily driven by vegestable prices. The food inflation which came in at 8.70% for November, as against 6.61% in October.
The 5.55% CPI inflation is far from the RBI’s medium-term target level of 4%, it is within the tolerance limit of 2-6%. However, its 50 months above the Reserve Bank of India's medium-term target of 4 percent.
Though India has strong domestic macros and has done a commendable job of containing inflation within reasonable levels, the Indian equity markets are presently enjoying a positive outlook. However moving forward, the Lok Sabha election in 2024, the impact of 10-year US bond yields, and geopolitical risk may have an impact on inflation in coming quarters."
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