2023-09-13 10:02:44am | Source: TIW Capital
Quote on CPI and IIP Data : Inflation declined to 6.8% YoY in August from 7.4% in the previous month as food inflation moved lower says Mohit Ralhan, TIW Capital
Below Quote on CPI and IIP Data By Mohit Ralhan - Chief Executive Officer, TIW Capital
"Inflation declined to 6.8% YoY in August from 7.4% in the previous month as food inflation moved lower. Vegetable prices which had led to the higher reading in July declined 5.9% MoM. Cereals and pulses, the other major contributing categories, only saw a marginal rise sequentially. The food price index as a whole witnessed a sequential decline. Fuel inflation also remained in check despite rising global crude oil prices. The better-than-expected inflation data means that RBI will continue to hold the policy rate at its upcoming meeting. Core inflation hasn’t inched higher due to the transitory shock from vegetable prices. But the central bank will remain cautious given that global crude benchmark, Brent is holding above USD 90/bl, and rainfall has been less than normal in August"
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