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India Consumer Prices (Apr. 2024)

Headline consumer price inflation edged down in April to an 11-month low and, looking ahead, we think it will reach the RBI’s 4% long-term target by the middle of the year. We remain comfortable with our long-held view that the RBI will kick off its easing cycle in August, which would be earlier than the Q4 start that the consensus is now expecting.

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