Quote on CPI Numbers By Mr. Vivek Rathi, Knight Frank India
Below the quote on CPI Numbers by Mr. Vivek Rathi, Director Research, Knight Frank India
“The moderation of consumer inflation to a four-month low of 4.87% is noteworthy, given the widespread nature of this decline across various product categories, including food and beverages and manufactured items, in October 2023. This decrease aligns with the Reserve Bank of India's (RBI) target range of +/-4%, indicating the effectiveness of the decision to prioritise economic growth while maintaining a pause on monetary policy actions, particularly regarding interest rate hikes after February 2023.The stability in interest rates has played a crucial role in bolstering both consumer and business confidence within the country, especially in the face of challenging geopolitical circumstances and a decelerating global economic environment. Despite these headwinds, the housing market in the country continues to outperform global counterparts, and the persistence of stable interest rates is expected to further stimulate demand in the housing sector.”
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