India Economics

India Data Response

12 June, 2017

Consumer Prices (May) & Industrial Production (Apr.)

The sharp drop in Indian consumer price inflation in May is likely to raise further questions about the RBI’s reluctance to loosen policy. But we think the central bank’s unwillingness to cut rates is justified. Inflation is close to bottoming out, and is likely to begin rising over the coming months as core price pressures build.

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