The Wholesale Price Index (WPI) for January came in at negative 0.39 percent versus CNBC poll of 0.15 percent. The data shows a decline in core inflation but food prices have inched up.
The Wholesale Price Index (WPI) for January came in at negative 0.39 percent versus CNBC poll of 0.15 percent. The data shows a decline in core inflation but food prices have inched up. The November WPI data has been revised further lower to negative 0.17 percent from zero.
As long as the WPI remains benign, the RBI will take comfort from the fact that all sengments are trending downward, says Samiran Chakrabarty of StanChart. He thinks the oveall trajectary could down by 40 bps. We think another 75 bps rate cut over next few policies, says Samiran. The WPI is the best supporting evidence that inflation is on the downtrend.
Indranil Pan, says the food inflation trending up is because this time of the year vegetable and cereal prices move higher. But it is not a worrying factor since the food price cycle will go lower next time.
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