Reaction on today`s CPI data by Raghvendra Nath, MD, Ladderup Wealth Management
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Below the Reaction on today`s CPI data by Raghvendra Nath, MD, Ladderup Wealth Management
"India's CPI has dipped to a 12-month low of 4.75% in May 2024, below the estimated 4.85%. Meanwhile, core inflation has also decreased to 3.1% from April's 3.2%. However, food inflation remains sticky at 8.69%. These figures are likely to reassure the Reserve Bank of India (RBI) regarding the downward trend in inflation, echoing recent discussions at the MPC meeting. Unless there's a surprising hawkish shift signaled by the anticipated US CPI release and FOMC statement later today, bond markets are anticipated to respond positively to this update."
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