Consume price inflation in India which eased to an over six-year low in May (at 2.82 per cent) is seen declining further towards 2 per cent, perhaps even lower, by July, according to a report SBI Research.
Indian stock indices have managed to end this week with gains on a cumulative basis. Benchmark Sensex and Nifty indices accumulated 0.8-1.0 per cent gains.
According to the latest data released by the ministry of statistics, the retail inflation during the month of December was at 5.72 per cent. The latest figures, released on Thursday, showed a marginal decline and further moderation in retail inflation as compared with the previous month.
The Reserve Bank of India's three-day monetary policy committee meeting is set to commence today. Financial markets will be keenly watching the committee's rate hike stance if any, as inflation is still above the 6 per cent target band.