The inflation data--both for retail and wholesale--set to be released this week will be on investors' radar for fresh cues. Retail inflation data will be released later in the day today.
Wholesale inflation in India, based on the Wholesale Price Index, is back in positive territory after staying in the negative zone for the seventh straight month until October.
Retail inflation in India continued to ease through October, supported by a relative decline in some of the sub-indexes. The October consumer price index (CPI) came at a four-month low of 4.87 per cent against 5.02 per cent the previous month, official data showed.
SBI Research, in its latest 'Ecowrap' report, noted that a continued vigil on the evolving inflation outlook is warranted given the erratic progress of monsoon and its impact on Kharif crop sowing, and subsequently on overall food inflation.
The rise in inflation could partly be attributed to the current spurt in tomato prices across India. The rise in tomato prices is reported across the country, and not just limited to a particular region or geography. In key cities, it rose to as high as Rs 150-160 per kg. Besides vegetables,
The consumer food price index (CFPI) in India moderated to 4.79 per cent in March this year, down from 5.95 per cent in February and 7.68 per cent in March 2022
Retail inflation in India fell marginally but remained above RBI's 6 per cent upper tolerance band for the second straight month in February, with the Consumer Price Index pegged at 6.44 per cent, government data showed.
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.