The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 2.31 per cent (provisional) for the month of January 2025, government data showed Friday.
CareEdge Ratings expects the central government to continue on the path of fiscal consolidation and projects India's GDP growth to moderate but remain healthy at 6.5 per cent in the current financial year.
India's retail inflation in November was at 5.48 per cent as compared to 6.21 per cent logged in October, falling in line with the Reserve Bank of India's 2-6 per cent comfort band.
The annual rate of inflation based on all India Wholesale Price Index (WPI) number is 2.36 per cent (provisional) for the month of October, 2024 (over October 2023).
Indian stock indices closed Wednesday trade in the red, dragged by a broad-based fall virtually in all the sectoral indices, particularly the media, metal, PSU bank, realty, oil and gas. Profit booking at higher levels also dampened investors sentiment, said analysts.
With La Nina getting precedence going ahead, excess rainfalls could result in crop loss and thus a negative impact on food prices, SBI Research report, authored by Soumya Kanti Ghosh, Group Chief Economic Advisor, said.
From here, the market is likely to see stock-specific moves this week on the back of the ongoing earning season. The market participants also digested the elevated inflation data for June, besides eyeing the much-awaited Budget to be presented on July 23.
Retail inflation or Consumer Price Index in India is expected to remain below or close to 5.0 per cent in the remaining months of 2024-25, except for September, asserted SBI Research.
The rating agency has elevated India's growth forecast by 20 basis point to 7.2 per cent for fiscal year 2024-25. Earlier in March Fitch has forecasted India's growth at 7 per cent.
The Confederation of Indian Industry (CII) anticipates that India's GDP will grow by 8 per cent in 2024 during an event in Delhi on Thursday focused on the country's Economic Growth Outlook.
Annual retail inflation in May was at a 12-month low of 4.75 per cent, marginally down from 4.83 per cent in April. The retail inflation or Consumer Price Index, in December last year was 5.7 per cent, and since has been moderating.