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

13-09-2023 10:02 AM | 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

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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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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

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