India’s retail inflation likely rose in March but stayed within target

indias retail inflation likely rose in march but stayed within target

Sumary of India’s retail inflation likely rose in March but stayed within target:

  • India’s retail inflation edged up to a four-month high in March, led by an increase in food and fuel prices, but remained within the Reserve Bank of India’s target range, a Reuters poll predicted..
  • The April 5-8 poll of more than 50 economists showed retail inflation rose to 5.40% in March from a year earlier as opposed to 5.03% in February..
  • “Although India’s core inflation has remained elevated for a while, the recent acceleration in headline inflation largely reflects higher food prices,”.
  • “I expect the pickup to be a temporary phenomenon, yet there are significant risks surrounding the inflation outlook.”.
  • The RBI raised its inflation projection for the first half of this fiscal year to 5.2% on Wednesday, still within the RBI’s target range of 2%-6%..
  • “With some cities already under COVID-19 lockdown and maybe more facing the same risk, the panic-buying like a year ago may set in to pressure inflation further up in the months ahead,”.
  • The RBI kept the key repo rate at record low 4.0% and its monetary policy accommodative amid concerns of rising COVID-19 cases that could derail the nascent recovery….

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